A credit union is a not-for-profit institution that provides many financial services of traditional banks, including allowing members to hold deposits, clear checks against checking account deposits, and obtain credit in the form of loans. In order to become a member, a prospective client should belong to the group in which the credit union is chartered to service. Many credit unions are organized by professions, employers, geographic location, or associations to which one may belong. Prospective members are then allowed to make a nominal deposit, which then gives them access to all of the other services available at the credit union, including obtaining home loans, car loans, short-term construction loans, etc.