Credit Unions vs. Banks

A credit union is a not-for-profit, cooperative, financial institution owned and operated by its members. Credit unions were formed by and serve people who share a common bond, such as employment, education, social interest, location or religion. Offering similar products to a bank, like checking, savings, and loans, credit unions are proud of a fundamental difference -  instead of a business model set up to make a profit for a small group of shareholders, credit unions put the needs of their members first and return profits to the membership.