How do Credit Unions differ from Banks?

Unlike banks, credit unions are member owned financial cooperatives; so when you join Security Credit Union, your initial deposit to open a share account establishes your membership and makes you a part-owner. Since there are no stockholders to satisfy, our credit union passes on the savings to you in the form of lower loan rates, fewer fees, and higher yields on deposits. Security Credit Union is a not-for-profit financial cooperative, owned and operated by the members.

Category: About Security CU
Tags: Banking, Banks, Credit Unions, Difference