Credit Unions vs. Banks

Credit Unions pride themselves on being your top source for financial information.

Credit Unions and your deposits are insured up to $250,000.00.  The same way as they are at banks.  Credit Unions are insured by the federal National Credit Union Administration (NCUA), which provides the same protections that the Federal Deposit Insurance Corporation (FDIC) applies to banks insurance coverage on deposits up to $250,000.

Customers frustrated with bank fees might want to consider their options, including switching their money over to a credit union. According to the Credit Union National Association, more than 96 million Americans use credit unions, which generally offer higher savings, CD and IRA rates, lower interest rates on loans and lower or no fees than traditional banks

Credit unions offer many of the same financial services as banks, including but not limited to; share accounts (savings account), share draft (checking account), share term certificates (certificates of deposit), IRA's, credit cards, loans, and online services.

Credit Unions, unlike banks, are owned and governed by their members not a small group of stock holders.  Credit Unions are often misunderstood and most Americans are eligible to join them.

 

Get Verified