The Differences Between Banks and Credit Unions

What is the difference between banks and credit unions, when they offer the same services? Watch this short video to learn more about banks and credit unions, and why you should consider using credit unions over banks.

Credit unions are cooperatives owned by the members, and all of the members profit from them. Banks are privately owned and only the owners profit from them. Different companies insure credit unions and banks, but they are both insured to protect your money, so credit unions are as safe as banks in that regard. Credit unions typically have lower or nonexistant fees compared to banks that are for profit, and can offer better rates.