|
Nowadays, banks are busy saying lots of things about credit unions that just aren't true. Or nice for that matter.
Non-profit credit unions exist to make a big difference in the life of the Little Guy-hardworking Americans of modest means who just can't stomachbanks' higher fees.
Look at the Difference between Credit Unions and Banks:
Credit Unions
Not-for-profit
Financial cooperative
Made up of members
Each member is an owner
Members pool savings to provide low-cost loans and low-fee services to each other
Earnings are returned to members in the form of better rates and fees
Board of Directors is chosen by members
Board members are volunteers, serving without salaries
Banks
For profit
Commercial business
Have "customers"
Stockholders are owners
Banks charge high rates and fees to their profits
Profit is given to stockholders
Board of Directors is chosen by stockholders
Board members are paid huge salaries
| 