Question

How is a bank different than a credit union

Answer 1

The bottom line is that banks are for-profit institutions, while credit unions are non-profit. Credit unions typically brag better customer service and lower fees, but have higher interest rates.

Answer 2

The bottom line is that banks are for-profit institutions, while credit unions are non-profit. Credit unions typically brag better customer service and lower fees, but have higher interest rates. On the contrary, banks generally have lower interest rates and higher fees. Banks, on the other hand, often have higher fees but more convenience regarding location, technological efficiency, mobile access, and rewards programs.