How are Credit Unions Different from Banks?
Credit unions and banks often provide many of the same services. They’re both places to deposit, save and borrow money, and they offer several other financial products and services. However, there are some key differences in not only how each is run, but what that ultimately means for the people doing business with them.
According to MyCreditUnion.gov, an educational website developed by the National Credit Union Administration, one of the biggest advantages a credit union provides to its members is helping them save and borrow, often with better rates, and receive other affordable financial services.