Credit Union Difference

Credit unions serve a common field of membership based on characteristics. Like banks, credit unions accept deposits, make loans and provide a wide array of other financial services. Credit unions are not-for-profit organizations that exist to serve their members.
Credit Union vs Bank graphic
Not-for-Profit For-Profit
Your funds are insured up to $250,000 by the NCUA.
Your funds are insured up to $250,000 by the FDIC.
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.
Earnings returned to members through services like free ATMs, better rates and lower fees.
Earnings go to outside stockholders in the form of dividends.
Credit unions have fewer branches but with participation in a shared branching network provides more than 5,000 locations nationwide.
Large national banks offer many branches across the country. Smaller banks can cover smaller regions.
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