The Difference Between a Credit Union and a Bank

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When you enter a credit union or a bank they look the same however, there are major differences in how they operate.  Banks operate for profit and have a Board of Directors that are paid while credit unions are not for profit and have a Board of Directors that are volunteers.

When you open a membership with a credit union you are more than just a member.  You become a part owner of that institution.  Credit Unions are owned and controlled by the people who use their services.  Your voice matters and your input is always welcome.

Most institutions offer the same array of products.  You’ll find credit union profits are returned back to members in the form of reduced fees, higher savings rates and lower loan rates.  Take some time to educate yourself about the products and services that best meet your needs and lifestyle.  You can compare product and service information on any credit unions’ website.

Some credit unions are designated as a Community Development Credit Union (CDCU).  A CDCU has a mission of developing products to serve the low and moderate income community.  We work in our community to enhance services to those in need when other institutions have turned them away due to past history.  CASE provides products to allow the member to move past challenges and work toward a more stable financial future.  Our team works closely with members to assist them to enhance their financial well-being.

CASE Credit Union specializes in:

  • Fairly priced loans, including to members with imperfect, limited or no credit history
  • A safe place to save and build assets
  • A place to conduct transactions at reasonable cost
  • Financial education and counseling for its members
  • Products, services and support that can help members to free themselves from high-cost and predatory debt, gain control over their personal finances, and achieve economic well-being.

Stop by today and check out the difference between a credit union and a bank.  You will be glad you did.

www.casecu.org