| CREDIT UNIONS |
BANKS |
| Not for profit.
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For-profit corporations who offer a full range of financial products and services.
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| Earnings are returned to members through services like free ATMs, better rates and lower fees.
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Earnings go to outside bond and stockholders in the form of dividends.
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| Insured by NCUA up to $250,000.
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Insured by FDIC up to $250,000. |
| Credit unions are democratically governed and elections are based on a one-member, one-vote philosophy.
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Banks are governed by paid shareholders. Voting rights depend on the number of shares owned. |
| ATM networks that offers up to 50,000 surcharge-free ATMs. |
Banks require customers to use their branded ATMs and branches for services or pay fees. |
| Credit unions share their branches with each other to offer thousands of locations nationwide at no cost to members. |
Banks require customers to use their branded branches for services and charge fees for the convenience. Some services are unavailable if not your opening branch. |
| Credit unions are local, community based financial institutions. Members support their local communities when they bank at a credit union.
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Banks are big! The average size of a bank is double that of a credit union. |
| Credit unions have members, not shareholders.
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Banks have customers and shareholders. They must make money from their customers to please shareholders.
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