Unit+5+-+Financial+Institutions

= Banks vs. Credit Unions = = What's the difference? =

People that invest money into stocks.
 * **Topics** || **Banks** || **Credit Unions** ||
 * Owners || Investors

From __The Credit Unions vs. Banks__ (below) || Members of the Credit Union members of the Union are people that are from town, work there or live in a county From __The Credit Unions vs. Banks__ (below) ||
 * Profits- where do they go? || The investors collect the profits of the institution. || Non profit entities. Profits are returned to the members of the credit union in the form of lower loan interest rates and higher dividends. ||
 * Service || Not as much customer satisfaction, not all have a place where you can read, watch TV, just sit down and relax basically, Don’t really know you because so many people are going through every day.  ||  Know your name, Look sort of like a web café where you can read, watch TV, and use WIFI, More small-town feeling, more customer satisfaction.  ||
 * FDIC || FDIC insured- guarantees the safety of depositing money into accounts. Provides deposit insurance. || Not FDIC insured. Insured by NCUA which is an independent federal agency that watched the activity of credit unions. Credit Unions only touch NCUA funds when needed. ||
 * Overall comparison- which is better? || Banks have to pay the board of directors so they charge higher interest rates than a Credit Union.

From: Credit Unions vs. Banks: Which is better? || Credit Unions in my opinion are better because they since their owners are their members they don't have to pay the board if directors so they tend to have lower interest rates.

From: Credit Unions vs. Banks: Which is better? ||

=Resources:= The Credit Union vs. the Bank Credit Unions vs. Banks: Which is better?