A credit union is a member-owned, not-for-profit organization that usually offers more favorable rates toward their members. Banks, on the other hand, are for-profit organizations which usually offer higher rates and penalty fees. While most banks couldn’t afford the gamble of giving out loans during the recession, credit unions saw a 13.1 percent growth. In all, it seems credit unions are the better choice if you had to choose between the two, but I’ll let you be the judge of that. Check out the rest of today’s infographic to see if a credit union is right for you!
Is a Credit Union Right for Me?
Infgoraphic source: communityfirstfl.org/a>