Sunday, October 9, 2011

Credit unions vs banks.

When banks make a profit, the profits go to their shareholders.

When credit unions make a profit, the profits are distributed back to their customers. Credit unions are run by the community, for the community.

There are advantages to both banks and credit unions. Major banks have a lot of ATMs so you have more access to take out money. Credit unions don't have that accessibility but when credit unions make a profit, that money is invested back to your community. Credit unions have high incentives for checking accounts.

Credit unions are a non-profit organization. So they don't benefit from the people who use credit unions. Most credit unions are ran by people who put money into it, like you.

1 comment:

  1. I honestly prefer a credit union over big banks. For me, a credit union is a lot easier to deal with compared to banks and the folks at Oak Trust in Plainfield, Illinois just make the experience even better. Check out their website at