Credit Unions

Credit Unions are similar in many ways to banks, and offer many of the same services. These financial institutions are technically owned by the member who have accounts in them. Credit unions are also generally organized with the primary goal of providing services to its members, and not to make a profit like traditional banks.

Credit unions can be beneficial to consumers, because they tend to be able to offer better interest rates on their products. Surveys have also shown the customers have much higher customer satisfaction rates than those found as banks. Sometimes because of their size and footprint, credit unions have been unable to offer the same level of convenience, such as online banking and large

  • ATM networks. But recently credit unions have made great strides in closing the gap between the services they offer compared to those of traditional banks. Many credit union products are insured through the NCUA.

    Some of the services generally offered by credit unions are: