Credit Unions are member-owned not-for-profit financial cooperatives that exist to serve their members. They can offer you many of the same products and services as a bank, but there are some key differences. The chart below explains how banking with a credit union can offer you distinct advantages.

Credit Unions:	Banks:
Are owned equally by their members	Are owned by their stockholders
Return earnings to their members in the forms of lower loan rates, lower fees and higher yields on savings	Return earnings only to the stockholders
Are not-for-profit	Are profit-driven
Are governed by a volunteer board that is elected by the membership	Are governed by a compensated board that is comprised of majority stock holders
Are federally insured by the NCUA (National Credit Union Administration) or a private insurer	Are federally insured by the FDIC (Federal Deposit Insurance Fund)