Credit Unions v. Banks
Credit Unions and Banks. What’s the difference?
|Type of Organization||Not-for-profit financial cooperative||Generate profit for stockholders|
|Who Owns It||Members||Stockholders|
|Board of Directors||Volunteer members (unpaid)||Stockholders (paid)|
|Income Comes From||Interest from loans, non-interest income||Investments, fees, interest from loans|
|Income Goes To||Members (in the form of better rates and fewer fees)||Stockholders|
|Who Can Join||Anyone within a designated field of membership||Anyone|
|Deposits Insured By||NCUA (National Credit Union Administration)||FDIC (Federal Deposit Insurance Corporation)|
|Access||3,800 Shared Branches||Only branches owned by the bank|
That’s nice, but what’s in it for me?
Our free Kasasa Cash checking pays you with massive interest and nationwide ATM fee refunds! Plus, you’ll enjoy other money-saving conveniences:
- Free Debit Card with no usage fees
- Free Online Banking
- Free BillPay
- Free Mobile Banking
- Automatic payment loan rate discount eligibility
And our Trailhead Rewards program rewards you for being an active member of our financial cooperative.