Credit Unions

Banks

Not for profit.

For-profit corporations.

Credit unions have members, not shareholders. Credit unions are accountable to members.

Banks have customers and shareholders.  Banks are constantly cross-selling and targeting customers as numbers, not individuals.

Credit unions are local, community based financial institutions. Members support their local communities when they are part of a credit union.

Banks are big! The average size of a bank is double that of a credit union.

Credit unions are democratically governed and elections are based on a one-member, one-vote philosophy.

Banks are governed by paid shareholders. Voting rights depend on the number of shares owned.

Insured by NCUA up to $250,000.

Insured by FDIC up to $250,000.

Earnings are returned to members through services like free ATMs, better rates and lower fees.

Earnings go to outside bond and stockholders in the form of dividends.

Access to your money. As part of a CO-OP,  you have access to more than 30,000 surcharge-free ATMs as well as mobile and internet banking.

Banks require customers to use their branded ATMs and branches for services and pay fees. Some services are unavailable outside the bank.

Get more. This means higher rates on your savings, lower rates on loans, and honest insightful advice.

They must make money from their customers to please shareholders. Their interest lies on the bottom line.