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How are credit unions different from banks?

April 26, 2017Banks credit different unions

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How are credit unions different from banks?

2 Answers

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Credit Unions are mutual organisations owned by members. We do not focus on high profits paid to shareholders, instead we return value to our members through competitive pricing, fairer fees and a community focus.

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Credit unions are democratically run by their members, whereas at a bank or trust company you are only a customer. The primary reason for the existence of credit unions is to serve their member’s financial needs, whereas banks and trust companies exist to earn dividends for shareholders.