What Is a Credit Union—and How Is it Different From a Bank?

iStock/sshepard
iStock/sshepard

Between the 2008 financial crisis and the recent Wells Fargo fiasco, consumers have grown distrustful of banks and are considering credit unions as an alternative place to park their cash. Just like banks, credit unions accept deposits and make loans—so how, exactly, are they different?

For one, they have a democratic history. The first credit unions were established as cooperatives, meaning the people who kept their cash in the credit union also helped manage it—and they still operate this way today. As such, you are treated as a member, not a customer, and have the right to vote on a board of directors. Typically, personal finance expert Tal Frank tells mental_floss, membership often means you can expect better service at a credit union than at a big bank.

“However, if comparing a credit union to a community bank or a small local bank, you will probably find that you get a high level of service at both," Frank says. "The smaller guys try harder. They also have more of a personal connection with clients or members.”

Credit unions are also non-profit organizations. "So, unlike banks, they don't have stockholders who expect to receive a quarterly dividend payment," Timothy Wiedman, a retired associate professor of management and human resources at Doane University, tells mental_floss. "And without the need to pay stockholders, federally insured credit unions can benefit their members by keeping fees low.”

As Weidman says, because they’re non-profit, credit unions can use any excess earnings to offer customers lower rates and better financial products. “Most banks pay lousy rates of interest, have too many fees, charge too much for those fees, and charge too much interest when loaning money,” says Wiedman. “Virtually all federally insured credit unions beat most banks in nearly every one of those categories.”

But the fact that they're community-focused cooperatives doesn't mean credit unions are a free-for-all: They operate under certain rules set by an organization called the National Credit Union Administration (NCUA). In addition to setting guidelines, the NCUA also insures your funds (just as the FDIC—Federal Deposit Insurance Corporation—does your deposits at a bank).

Interested an opening an account? Credit unions are a bit more exclusive than banks. “In the olden days, one had to be an employee of a particular company or member of a certain group to join a credit union,” Frank says. “Over the years that distinction has eroded for many credit unions. Guidelines changed to include allowing membership for family, a specific occupation, or all those who live in a geographic area (even as large as an entire state). As an example, Delta Community Credit Union is the largest in Georgia. Although there are ‘membership eligibility’ guidelines, the guidelines are so broad that it is pretty much open to anyone.”

Many credit unions will expand their membership to people outside of an industry or area if you make a small charitable donation, too. The Pentagon Financial Credit Union, for example, is typically only open to military employees, but just about anyone can get a membership with a one-time $15 donation to Voices for America's Troops or the National Military Family Association.

If you’re looking for a credit union, ASmarterChoice.org is a good place to start your search. You'll need to vet the credit union carefully, as you would any other financial institution: Make sure they are indeed insured by the NCUA, and read member reviews on comparison sites like NerdWallet and Bankrate. If convenience is important to you, you’ll also want to check out their mobile and online banking options to make sure they fit your needs.

Is There An International Standard Governing Scientific Naming Conventions?

iStock/Grafissimo
iStock/Grafissimo

Jelle Zijlstra:

There are lots of different systems of scientific names with different conventions or rules governing them: chemicals, genes, stars, archeological cultures, and so on. But the one I'm familiar with is the naming system for animals.

The modern naming system for animals derives from the works of the 18th-century Swedish naturalist Carl von Linné (Latinized to Carolus Linnaeus). Linnaeus introduced the system of binominal nomenclature, where animals have names composed of two parts, like Homo sapiens. Linnaeus wrote in Latin and most his names were of Latin origin, although a few were derived from Greek, like Rhinoceros for rhinos, or from other languages, like Sus babyrussa for the babirusa (from Malay).

Other people also started using Linnaeus's system, and a system of rules was developed and eventually codified into what is now called the International Code of Zoological Nomenclature (ICZN). In this case, therefore, there is indeed an international standard governing naming conventions. However, it does not put very strict requirements on the derivation of names: they are merely required to be in the Latin alphabet.

In practice a lot of well-known scientific names are derived from Greek. This is especially true for genus names: Tyrannosaurus, Macropus (kangaroos), Drosophila (fruit flies), Caenorhabditis (nematode worms), Peromyscus (deermice), and so on. Species names are more likely to be derived from Latin (e.g., T. rex, C. elegans, P. maniculatus, but Drosophila melanogaster is Greek again).

One interesting pattern I've noticed in mammals is that even when Linnaeus named the first genus in a group by a Latin name, usually most later names for related genera use Greek roots instead. For example, Linnaeus gave the name Mus to mice, and that is still the genus name for the house mouse, but most related genera use compounds of the Greek-derived root -mys (from μῦς), which also means "mouse." Similarly, bats for Linnaeus were Vespertilio, but there are many more compounds of the Greek root -nycteris (νυκτερίς); pigs are Sus, but compounds usually use Greek -choerus (χοῖρος) or -hys/-hyus (ὗς); weasels are Mustela but compounds usually use -gale or -galea (γαλέη); horses are Equus but compounds use -hippus (ἵππος).

This post originally appeared on Quora. Click here to view.

Can Soap Get Dirty?

iStock/vintagerobot
iStock/vintagerobot

When you see lovely little bars of lemon-thyme or lavender hand soaps on the rim of a sink, you know they are there to make you feel as fresh as a gardenia-scented daisy. We all know washing our hands is important, but, like washcloths and towels, can the bars of hand soap we use to clean ourselves become dirty as well?

Soaps are simply mixtures of sodium or potassium salts derived from fatty acids and alkali solutions during a process called saponification. Each soap molecule is made of a long, non-polar, hydrophobic (repelled by water) hydrocarbon chain (the "tail") capped by a polar, hydrophilic (water-soluble) "salt" head. Because soap molecules have both polar and non-polar properties, they're great emulsifiers, which means they can disperse one liquid into another.

When you wash your dirty hands with soap and water, the tails of the soap molecules are repelled by water and attracted to oils, which attract dirt. The tails cluster together and form structures called micelles, trapping the dirt and oils. The micelles are negatively charged and soluble in water, so they repel each other and remain dispersed in water—and can easily be washed away.

So, yes, soap does indeed get dirty. That's sort of how it gets your hands clean: by latching onto grease, dirt and oil more strongly than your skin does. Of course, when you're using soap, you're washing all those loose, dirt-trapping, dirty soap molecules away, but a bar of soap sitting on the bathroom counter or liquid soap in a bottle can also be contaminated with microorganisms.

This doesn't seem to be much of a problem, though. In the few studies that have been done on the matter, test subjects were given bars of soap laden with E. coli and other bacteria and instructed to wash up. None of the studies found any evidence of bacteria transfer from the soap to the subjects' hands. (It should be noted that two of these studies were conducted by Procter & Gamble and the Dial Corp., though no contradictory evidence has been found.)

Dirty soap can't clean itself, though. A contaminated bar of soap gets cleaned via the same mechanical action that helps clean you up when you wash your hands: good ol' fashioned scrubbing. The friction from rubbing your hands against the soap, as well as the flushing action of running water, removes any harmful microorganisms from both your hands and the soap and sends them down the drain.

This story was updated in 2019.

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