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Credit Unions vs. Banks (text version)

This is a text version of the infographic found in the Credit Unions vs. Banks news article.

Members own credit unions vs. shareholders own banks


Credit unions: 24/7 access

Most credit unions offer mobile and online access to your money anytime, anywhere.

Banks: 24/7 access

Most banks offer online tools and apps for access to your money on the go.


Credit unions: Owned by its members

Credit unions are governed by a volunteer board of directors elected by the credit union.

Banks: Owned by shareholders

Banks are run by individuals who may or may not have an account with the bank itself.


Credit unions: Not-for-profit

Lower rates and fees ensure that profits are returned to members. Fees and rates are set with the members’ best interest in mind.

Banks: For profit

Fees and rates fuel profits that are returned to shareholders. This means that fees and rates are often set with the shareholders’ best interest in mind.


Credit unions: Insured for up to $250K

Most credit unions, including Numerica, are insured through the NCUA (an independent federal entity).

Banks: Insured for up to $250K

Most banks are insured through the FDIC (an independent federal entity).


Credit unions: CO-OP ATMs 

Numerica is part of a network of credit unions offering over 30,000 surcharge-free ATMs to members. Deposits and withdrawals may be made using any of these CO-OP ATMs. 

Banks: Proprietary branches

Customer transactions are often restricted to bank branches.

Today's Rates

April 16, 2024