Just some clarification. I work at a credit union and some of the main differences is that a credit union is for the people. Most are not for profit so they are not out to make tons of money off the membership. Just what is needed to operate. Also, the members all have one vote in how the credit union is ran. No matter how much money you do or don't have. Also, most credit unions are insured with NCUA not FDIC. They kind of mirror each other as far as the insurance goes. Personally, I love credit unions and what they stand for. Since we are not for profit this allows us to pass those savings on to the membership in the form of lower loans rates and higher deposit account rates.
