Banks
- Investor-owned and operated
- High interest rates on loans
- Maintenance fees on most accounts
- Profit-focused
- Secure investments and loans
- Digital access
- Modest dividends on savings
- Typically publicly traded and has a paid board of directors
- Insured by FDIC and/or private insurance
Credit Unions
- Member-owned and operated
- Low interest rates on loans
- No or low maintenance fees on most accounts
- Community-focused
- Secure investments and loans
- Digital access
- High dividends on savings
- Shares are owned by members and has a volunteer board of directors
- Insured by the NCUA and/or private insurance
