Given that credit unions are owned by the members (and not investors) and how do they get the initial funding they need to start.
I would think they wouldn't have members until after they are formed and to form there are costs such as building and initial salaries. I would think this would be a non-trivial amount of money.
Are my assumptions right or do I have some misunderstanding about how credit unions work? If so where do they get the initial startup capital?
I would prefer non speculative answers about how real credit unions are funded.