Galaxy FCU Winter 2019 Newsletter
Monday Dec 24th, 2018
According to NCUA (National Credit Union Association), a comaker is someone that signs on a loan and benefits from the loan, while a cosigner guarantees the loan but does not benefit from the proceeds. A comaker is required to also be a member of the credit union, while a cosigner is not. To be a member of the credit union, an individual must maintain a share (saving) account with a minimal balance of $5.00.
