2023年11月22日 • 3分钟
When it comes to banking, Americans are exceptionally loyal. According to a 2021 Bankrate survey, consumers tend to keep their checking and 储蓄账户 open for an average of 17 years.
If you happen to be looking for a new financial institution, 然而, you may be considering credit unions and 银行. This article breaks down the key differences between the two to help you find out which one is right for you.
No matter which you choose, your money is protected at insured credit unions and 银行. (信贷 unions are insured by the NCUA; 银行 are insured by the 联邦存款保险公司.) Your money is safe up to $250,000 in the event of a bank collapse.
The key difference between a credit union and a bank is that a credit union is a nonprofit institution that is owned by its members, while a bank is a for-profit institution that is owned by shareholders. This difference affects the rates, fees, services, and products that each institution offers. 一般, credit unions offer higher 利率 on deposits, lower 利率 on 贷款, 费用也比银行低. 然而, 银行 may have more 分支机构 and more cutting-edge technology and products compared with credit unions.
Because a credit union is owned by its members, any profits are returned to members in the form of lower fees and higher 利率. Here are just a few 好处 of joining a credit union:
信贷 unions don’t pay dividends to shareholders. Any profits are returned to members in the form of lower fees and higher 利率 on savings.”
While both credit unions and 银行 offer a range of financial products and services — including checking accounts, 储蓄账户, 贷款, 信用卡, and online and mobile banking services — a bank may be a better option if:
When you join Patelco, you become a member and an owner. 我们提供 好处 for our members, including:
The best type of financial institution for you depends on your individual preferences and needs. If you’re looking for lower fees and higher 利率, a credit union may be the right choice for you. Explore the 好处 for Patelco members and join today.
You can save more and save easily when you set up automatic savings using Patelco’s online banking. 现在了解更多.
对你的信用感到困惑? Get the facts on what it is, what lenders consider a good credit score, 如何查看你的分数, and how to maintain a good credit history.
信贷 unions have a long history of providing financial services to members. Find out how they started, how they differ, and why they can offer unique 好处.
Source: Bankrate / YouGov PLC