OW IS A CREDIT UNION DIFFERENT from A BANK?

How credit unions are different than banks

Not for profit.	For-profit corporations who offer a full range of financial products and services.
Earnings are returned to members through services like free ATMs, better rates and lower fees.	Earnings go to outside bond and stockholders in the form of dividends.
Insured by NCUA up to $250,000.	Insured by FDIC up to $250,000.
Credit unions are democratically governed and elections are based on a one-member, one-vote philosophy.	Banks are governed by paid shareholders. Voting rights depend on the number of shares owned.
More than 30,000 surcharge-free ATMs.	Banks require customers to use their branded ATMs and branches for services or pay fees. Some services are unavailable outside the bank.
Credit unions are local, community based financial institutions. Members support their local communities when they bank at a credit union.	Banks are big! The average size of a bank is double that of a credit union.
Credit unions have members, not shareholders.	Banks have customers and shareholders. They must make money from their customers to please shareholders.