A not-for-profit financial institution owned by its members, offering a range of banking services and focusing on community involvement.
A for-profit financial institution that provides a wide array of financial services to individuals and businesses.
For-profit banks prioritize profit, charge higher rates/fees. Non-profit credit unions are owned by members, offer lower rates/fees, personalized service.
Gov-backed. Insure deposits in banks & credit unions up to $250K. Your money is safe, regardless of institution.
Banks are owned by stockholders, while credit unions are owned by their members, giving members decision-making power.
Credit unions offer lower loan rates & higher savings rates than banks because they're not-for-profit, while banks charge higher fees. Compare before deciding.
Credit unions prioritize personalized service for members, while banks prioritize profits over customer needs.
Consider interest rates, fees, and recommendations from friends and family when comparing financial institutions. Make an informed decision
Choosing a bank or credit union sets the foundation for financial success—research, compare, decide, and achieve your goals.