Credit unions are intended to be individually focused. I believe regulations limit total business lending to 10-15% of the credit union's assets.
I think the intention there is to avoid a "company store" situation when a bunch of employees fund a credit union, and end up loaning their money to their employer or favored business. If the employer goes bust, the Federal government is left holding the bag of paying back the depositors.
I think the intention there is to avoid a "company store" situation when a bunch of employees fund a credit union, and end up loaning their money to their employer or favored business. If the employer goes bust, the Federal government is left holding the bag of paying back the depositors.