Home Page > Change Your Bank > Difference between Credit Unions and Banks

What is the difference between a credit union and a bank? Are they really that different? The major differences between a credit union and a bank are:

1. Credit Unions are member-owned. This means that if you have a credit union account, then you are a part owner in the institution.  You are more than a customer, you are a member.
   
   
2. Credit unions are not-for-profit. Any profits that the credit union makes are distributed back to its members as dividends. On average, this is why interest rates and bank fees are lower at credit unions in comparison to banks.

Watch the short videos below to learn more about the differences between credit union and banks. Then, click here to learn more about becoming a member at Security One FCU and experience change in 2009... experience the credit union difference.

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