Generally, credit unions are known to offer lower loan rates and higher savings rates.This is good for anyone who deposits money or borrows money. Higher savings rates lead to faster financial growth opportunity. Lower loan rates lead to money paid over the life of loans.
Savings and loans rates aside, credit unions help you save money in other areas. In comparison to large financial institutions, credit unions also charge less in fees, require lower minimum account balances and give better rates on credit cards.