How are Credit Unions Different?

Thinking of switching from your bank to a credit union? You may be wondering what the difference is.

Credit unions are member-owned financial cooperatives that provide the same financial services that traditional banks do, but that’s where the similarities end. Credit unions are not-for-profit, every credit union member is a shareholder. Unlike banks, credit unions are not listed on any stock exchange. In addition, credit unions do not depend on investments in startups, cryptocurrencies or any one industry or sector. Credit Unions focus on serving individuals and families in their field of membership.

Credit unions are regulated

Both credit unions and banks are federally governed, but there are differences. A credit union that’s federally insured, covers your accounts up to $250,000. However, credit unions face more government restrictions on their investments and loans than banks do. This means your credit union is careful with how it invests your money. For more than 8 decades, credit unions have been the original consumer financial protectors.

Advantages of Being a CU Member

• The average bank charges consumers close to $150 each year for having an open checking account or require minimum balances. On the flip side, many credit unions offer free checking or make it easy to avoid the fees, so you can set up your account and keep it running without it added costs.
• Credit unions are well known for the highly personalized and attentive service they provide to members. A 2017 American Customer Satisfaction Index Finance and Insurance Report found that members rate credit unions as having better service than banks, scoring an average of 82 out of 100. It’s part of what makes credit unions unique.

We value your membership, and your financial safety and security are a top priority. Please do not hesitate to contact us at or to drop us a line at with any questions or concerns you may have at this time.

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