So what is the difference between Credit Unions and Banks. Below is a simple chart showing you some key differences.
Beyond the differences listed below Credit Unions often offer better rates on deposits as well as loans.
| Credit Unions | Banks | What does this mean? |
| Not-for-Profit | For-Profit | While banks first priority is to earn profits for stockholders and holding companies. Credit unions return profits back to their members with higher rates on savings and deposits, no/low fees and low rates on loans. |
| Member Owned | Stockholder Owned | Credit unions are owned by members and are aimed to please them. Banks aim to please the stockholders with profits and earnings. |
| Cooperative with Other Credit Unions | Independent Business | Many credit unions are apart of a network that allows their members free usage of thousands of ATMs nationwide, as well as branch locations access. Banks are primarily independent business’s and operate accordingly. Usage of ATMs from competing banks often have fees. |
| Board of Directors are Volunteers and are Democratically-Elected | Board of Directors are Paid | Members get to elect the board of directors for credit unions. Every member has the option to help determine the board of directors democratically. |
Below you will find information on credit unions found all over the United States. Click on more details to get information about each individual credit union.
| Credit Union | Top CD Rate (2 year) |
Top Mortgage Rate (30 year Fix) | More Info |
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Alaska USA CU Posts Alaska USA CU Info |
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Melrose CU Posts Melrose CU Info |
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BECU Posts BECU Info |
