Credit Unions vs. Banks: What’s the Diff?

To Own or Be Owned

Credit Unions: Credit unions are member-owned so you’re not only a customer; you’re a partial owner! Credit unions make decisions driven by the best interests of their members. Unlike banks, there aren’t shareholders involved, so you can rest assured there’s no secret agenda or ulterior motives. Plus, credit unions are not-for-profit organizations.

Banks: Because banks are for-profit corporations, there are shareholders involved. Aka, people you’ve never met are calling the shots and making decisions involving your money. Relationships at a bank are more transactional, driven by their need to generate profits. Unlike a credit union, you have no ownership within a bank.

A Personal Touch

Credit Unions: Personalized service is the name of the game at credit unions. They are often smaller and more community focused, allowing for authentic, in-person connections with real people. It’s all about the relationship, not just numbers and transactions.

Banks: Larger in scale, banks can often lack the personal touch that credit unions provide. Getting into a relationship with a bank over a credit union is like going on a blind date over and over again; you never really know what you’re going to get.

Would you rather hang out with a faceless, nameless employee at some big business or with someone local whose name you know and, heck, they might even be your neighbor?

Oh Jeez, Here Come the Fees

Credit Unions: Known for no (or low) fees, credit unions like to avoid extra charges just as much as you do! Because there are no shareholders to impress, there’s fewer fees eating away at your funds!

Banks: Banks have tried and true methods of nickel-and-diming you. Monthly maintenance fees, ATM fees, overdraft charges, etc. You get the picture. Your money might be quietly disappearing from fees you didn’t even know existed.

The Choice Is Yours

If boring, meaningless interactions with faceless customer service reps are your thing, a bank might be for you. However, if you want personable service and real people in your corner, it’s time to try a credit union! At Community Choice Credit Union, we pride ourselves on being able to provide UNexpectedly delightful experiences for our members every time. You’ll get VIP treatment, a team of UNbankers who work for and care about you and you’ll have a say in your financial future as part-owner of the credit union.

Ready to join us at Community Choice, aka the UNbank?

Equal Opportunity
Community Choice Credit Union does not discriminate in employment opportunities or practices because of age, race, color, religion, sex, sexual orientation, gender identity, gender expression, pregnancy, marital status, domestic partner status, military status, veteran status, national origin, disability, genetic information, or any other status protected by applicable federal, state, or local law.