It is important to understand what kind of financial institution you are trusting with your money.

WHAT IS THE DIFFERENCE BETWEEN CREDIT UNIONS AND BANKS?

CREDIT UNIONS BANKS
Have MEMBERS; each person who deposits money IS an owner of the Credit Union Have CUSTOMERS; customers have no ownership in the organization
MEMBER-OWNED and operated CORPORATE-OWNED and operated
Are NOT-FOR-PROFIT institutions Are FOR PROFIT institutions
SERVICE driven PROFIT driven
Members gain from the profits Company gains from the profits
Profits are returned to members in the form of LOWER LOAN RATES, HIGHER SAVINGS RATES, and LOWER FEES Profits are returned to a small group of stockholders
Serves ONLY those individuals within their field of membership Serves anyone in the general public
Members elect a volunteer Board of Directors to represent their interests Has a paid Board of Directors who represent the owners; customers do not have voting privileges
Federally insured by the National Credit Union Administration Share insurance Fund Federally insured by the Federal Deposit Insurance Corporation (FDIC)