Tips on How to Get Rich from AskLewis: What is a Credit Union? A Short Tutorial


Welcome to My Wealth-Building and Investing Newsletter. This is the place you will get real facts, not fake news, or the hype of wish-full thinking. Read on and you will learn how to create wealth by investing wisely. This blog is taken from a lesson in our course on WealthHacks.



This blog offers tools, techniques, strategies, products, courses, and coaching tips for lifehackers, preppers, freegans, and the ordinary person seeking to live your best life. The site is designed to entertain, educate, and guide deep thinkers on the Path to transcending obstacles, solving problems through gamer psychology,  and accessing the best investing tips and conscious business practices.






For a passive investor, one of the best places to begin growing wealth is with a Credit Union. In the early stages, this is how investing works using game theory. When using gamer psychology for investing, or when you are investing during a recession it is best to start slow creating a financial safety net, in case you lose your job or you need money for necessities during a pandemic or some other worst-case scenario. If you are a more advanced investor and have an interest in a Warren Buffett Influenced Investing System click on the Hundred Dollar Bills Below…


Investing with a Credit Union

What is a credit union? A credit union is a member-owned financial cooperative, democratically controlled by its members, and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members. Many credit unions also provide services intended to support community development or sustainable international development on a local level.

Worldwide, credit union systems vary significantly in terms of total system assets and average institution asset size, ranging from volunteer operations with a handful of members to institutions with assets worth several billion US dollars and hundreds of thousands of members. Credit unions operate alongside other mutual and/or co-operative organizations engaging in cooperative banking, such as building societies. Credit unions and investing go hand in hand. Some folks, want to save but also want to make money faster than they can with a Credit Union, but with less risk than the stock-market.  If this is your interest explore this Complete Analytics-Driven Sports Fantasy Football and Sports Betting System. It’s based on the ideas presented in the book and movie Moneyball. Press on the play button below.


Credit unions differ from banks and other financial institutions in that those who have accounts in the credit union are its members and owners, and they elect their board of directors in a one-person-one-vote system regardless of their amount invested. Credit unions see themselves as different from mainstream banks, with a mission to be “community-oriented” and “serve people, not profit”.

Credit unions offer many of the same financial services as banks, but often using a different terminology; common services include share accounts (savings accounts), share draft accounts (checking accounts), credit cards, share term certificates (certificates of deposit), and online banking. Normally, only a member of a credit union may deposit or borrow money. Surveys of customers at banks and credit unions have consistently shown a significantly higher customer satisfaction rate with the quality of service at credit unions. Credit unions have historically claimed to provide superior member service and to be committed to helping members improve their financial situation. In the context of financial inclusion credit unions claim to provide a broader range of loan and savings products at a much cheaper cost to their members than do most microfinance institutions.


Credit unions must make enough surplus to cover expenses, otherwise, like any other business, they cannot continue, in which case they can become insolvent and cease to exist; the effect on those with funds deposited varies between jurisdictions.

Several factors combine to put credit unions at risk of failure. They may not be allowed to lend enough money to enough people who are willing and able to repay because of their rules on responsible lending. When debtors get into trouble, they may repay liabilities such as payday loans with high interest rates first, leaving the credit unions last. In some cases courts, after ruling against debtors, they have been allowed to pay off their debts with small payments, often free of interest, over a long period.


Credit unions differ from larger banking chains in two distinct ways:

  1. One key difference is that a credit union is a not-for-profit institution.
  2. Credit unions are member-focused institutions. A credit union is a cooperative, which means it is owned and  operated  by  its members, as opposed to being owned by its stockholders like a bank. Your initial membership deposit makes you a part owner of the credit union.


There are many advantages to investing through a credit union. If you pass the membership requirements, credit unions have a lot to offer over a regular bank:

1. Higher Interest Rates: This applies all deposit accounts including savings, money market, and checking accounts. Only online banks offer rates that are competitive or, in some cases, better than the rates offered by credit unions.

2. Lower Loan & Credit Card Rates: Credit unions offer the same financial products as banks, but they are much cheaper. Most people use their local credit union for car purchases because the rate is normally lower than dealer financing and because commercial banks are normally a percentage point or two higher than credit unions. Credit unions also offer low APRs on mortgages, personal loans, and credit cards.

3. Lower Fees: Credit unions have few fees compared to national banks. In fact, many offer checks, withdrawals, and electronic transactions free of charge. Many also offer checking accounts with no minimum balance and without a monthly account servicing charge. This could save you hundreds of dollars a year. Credit unions also charge less for bounced checks and overdraft fees.

4. Customer Focused Banking: With credit unions, member goals aren’t at odds with “management.” Therefore, the credit union has more incentive to provide low rates, fees, and great customer service.


Who and what is We are the online presence of a thinktank dedicated to the exploration of human potential, effectiveness, efficiency, productivity, radical self-sufficiency, personal development, and self-awareness in daily living and in business.




• If your interest is in starting your own online business, you may need training in how to increasing your SEO and Build Your Digital Marketing Business. A key element here is Creating Riches on YouTube. To learn about this click on theYouTube Icon Below…





Get World Class Training  in Gamer Psychology and  our Wealthhacks Investment-system based on Harrison’s Applied Game Theory


The Ask Lewis Team also offers Advanced Courses on Lifehacking, Crisis Management, Strategic Thinking, Troubleshooting, the World of the “Fixer, and How to Win the Game of Life read more below.

If you have an interest in becoming more efficient, effective, precise, productive, and self-aware, explore our Master Classes, courses, and personalized/customized coaching program –  “Applied Game Theory A-Z and Beyond”.

Learn more by clicking on the Game Theory  Icon button below…

A-Z and Beyond…



I also invite you to read, my regular blogs on game theory, and follow my posts and vlogs throughout the social network:



Contact Information

Thanks for allowing me to share my knowledge with you. If you want to contact me,  simply drop me an email…

The Game Theory Gamer Research Team



The free video links on this page lead to various affiliate links for “for-fee” products. We may receive commissions for purchases made through those links.


To Explore Ideas Creative And Innovative Ideas Related To Harrison’s Applied Game Theory You May Want To Explore The Following Subjects and associated links


how does investing work using game theory, gamer psychology for investing, investing during a recession, game theory investing systems, the best sports betting and fantasy football software, game theory passive investing, rule investing using game theory, robin hood investing with game theory, game theory system for investing in stocks, game theory investing for beginners, how to start investing using game theory, angel investing with game theory, credit unions and investing, what is a credit union?


Leave a Reply

Your email address will not be published. Required fields are marked *