The Credit Union Difference

The following are key differences between Credit Unions and Banks.

Credit Unions
Banks

Credit Unions

  • Not-for-profit organizations
  • Returns profits to members in the form of lower loan rates, higher savings rates, dividends and free to low-cost services
  • Invests directly back to members
  • Serve those individuals within their field of membership
  • Have members who act as co-owners and 'own' a stake in the organization
  • Credit Unions are member-service driven
  • Credit Unions are federally insured by the National Credit Union Administration (NCUA)
  • Elects a volunteer Board of Directors to represent member interests