Credit Unions vs. Banks
On the surface, Credit Unions and Banks may seem very similar… both offer similar financial services like checking and saving accounts, credit and debit cards, auto loans, and mortgages; however, if you look a little deeper, you’ll begin to see the many differences.
Check out this video to learn how credit unions return earning to their members.
Key Distinctions
- A credit union is a not-for-profit financial institution that is owned by its members and works to serve their best interests.
- A bank is a for-profit institution that is owned by its shareholders and exists to serve their best interests.
This distinction fosters a “People Helping People” philosophy amongst credit unions that further distinguishes them from banks, and benefits members in many ways.
Feature | Credit Union | Bank |
---|---|---|
Fees & Rates |
|
|
Ownership |
|
|
Support |
|
|
Security |
|
|
Mission |
|
|
Community Involvement |
|
|
Apply Online to Join
Power Protected Checking
An interest-earning rewards checking account with Cash Back and no minimum balance or direct deposit requirements.
Security Service Power Cash Back World Mastercard™
The more you spend, the more you earn with cash back and fewer fees!
Security Service Power Travel Rewards World Mastercard™
It pays to travel with Security Service thanks to rewards and low interest!