Woodstock Institute. (Keeping Current).Despite their mission to serve people of "modest means," credit unions in the six-county Chicago Chicago, city, United States Chicago (shĭkä`gō, shĭkô`gō), city (1990 pop. 2,783,726), seat of Cook co., NE Ill., on Lake Michigan; inc. 1837. region serve fewer poor than middle- and upper-class households, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a report by the Chicago-based Woodstock Institute, which analyzes how financial policies impact communities. In Chicago, where 40 percent of households earning less than $20,000 a year don't have checking accounts, credit unions have failed to bring poor people into the economic mainstream, said Malcolm Bush, the institute's president. But Cliff Northup of the National Credit Union Administration The National Credit Union Administration (NCUA) is responsible for chartering, insuring, supervising, and examining federal credit unions (FCUs) and for administering the National Credit Union Share Insurance Fund. , a regulatory agency regulatory agency Independent government commission charged by the legislature with setting and enforcing standards for specific industries in the private sector. The concept was invented by the U.S. , said credit unions reach more poor people than other financial institutions. |
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