The Credit Union Difference

The Difference between Credit Unions and Large Banks

A credit union is owned by its members—customers with a common bond who invest “shares,” or deposits, in the company. For example, each member deposits $25, or a share, to open an account. Our board of directors made up of volunteers elected by you, the members of the credit union, who make decisions about how the credit union operates in order to ensure our services reflect the needs of our members.

Large banks are usually owned by Wall Street shareholders, and must serve the interests of those shareholders above all else. Credit unions, on the other hand, are owned and operated by the people they serve. As we have learned lately: Bigger is not always better.