Credit union

Definition:

A not-for-profit institution that is operated as a cooperative and offers financial services such as low-interest loans to its members.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Reverse conversion

A technique in which brokerage firms earn interest on the stocks they hold for their customers by selling the short and investing the proceeds in money market accounts. The short positions are hedged... Read More

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