While credit unions and banks have many of the same product offerings, there is a fundamental difference between these two types of financial institutions. Credit unions are owned by their members and governed by an elected member-volunteer board of directors. Banks are corporations run by their shareholders who demand profitability at a high cost to customers. It is that simple.
Why choose a credit union?
Because of this fundamental difference, credit unions are able to pass on better rates and higher returns — maximizing the economic benefit to the members who make up the credit union.
Making sure you get the best return on your investment also means we offer competitive checking, savings and loan products — allowing you, the member, to take care of all of your financial business in one place.
What is NCUSIF and how is money insured at a credit union?
NCUSIF is the National Credit Union Share Insurance Fund which provides coverage for up to $250,000 for credit union member deposits backed by the U.S. government and is managed by the National Credit Union Administration (NCUA).