THERE’S NOTHING LIKE A CREDIT UNION!
When compared to a bank it’s like comparing
There is a big difference. Here is just a sample.
Feature |
Credit Unions |
Banks and S & L’s |
|
| Philosophy | Not for profit, not for charity, but for service. Earnings returned as better rates, fewer & lower fees, and improved services. | Strictly Business orientated. Banks generate profit for shareholders. | |
| Control/Mgmnt | Member elected, unpaid volunteers | Shareholder-elected, paid directors. | |
| Loans | Loan rates are generally lower than banks. CU’s help members repair their credit. | Loan rates are usually higher than credit unions. | |
| Fees | Fees are usually lower than banks. | Fees account for nearly 44% of bank’s profits. | |
| Safety | Deposits insured by the NCUA to at least $250,000. | Deposits insured by a Government agency up to $250,000. |
Descriptions are generalizations. Services, individual credit unions, banks, and
savings & loans offers will vary.
SYMBOL OF QUALITY AND SERVICE
