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What the dirfference from a regular bank to a credit union?

Is a credit union better than a regular bank? I would like to know the advantages and disadvantages. I have heard that a credit uinon is better but I don’t see how? If it is better should I go ahead and open an account as well keep my other regular bank account open?

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6 Responses to “What the dirfference from a regular bank to a credit union?”

  1. Billie H said :

    At the consumer level, there’s little difference. It really pertains to licensing, regulations and other peripheral matters related to management.

  2. WilljClinton said :

    Banks are corporate owned, credit unions are private.

  3. Common Sense said :

    There used to be a difference for the consumer (30 years ago)…. Today just find the best rates & checking plans you can (for what you need). As long as they’re federally insured, you’ll be fine.

    My wife and I use/like;

    Good luck!

  4. Sandz said :


    To tag onto the previous answers.

    Credit Unions are known for giving people who are classified as high Risk, a Chance. when Banks won’t go near you in extending credit.

    Almost anyone can become a Credit Union Member now, unlike in the past where they were closed to the public. You had to work at the place where they were affiliated.

    I would compare all the services of a credit union you are considering, to your current bank.

    Weigh what you are looking for now and in the near future and see if they offer what you are seeking

  5. Lee C. said :

    To me the only advantage of a credit union are the interest rates on loans, credit cards, etc. Some people believe the customer service is better at a credit union but I don’t see the difference. They all say (maybe not all) hello can I help you. I don’t believe credit unions are federally insured (FDIC) however they do hold some type of insurance for there customers. With credit unions you don’t automatically recieve a check card when you open an account you have to apply and see if you’re approved. For me credit unions have more requirements to be a member versus banks

  6. intensefirejr said :

    Hi AZKool,

    Credit Unions rock! I have to disagree with some of the answers provided here. Credit unions are by far the better choice for you and your money. Why? Well, I’ve found their customer service is focused on making you a loyal member for life. Because they aren’t driven by profits, like banks are, they can offer lower rates on loans and higher rates on deposits. Extra earnings are returned in the form of dividends to their members (customers)!

    Looking for a great credit union? Check out this credit union locator site: Hint: My favorite AZ credit union is Deer Valley FCU in Phoenix –

    Don’t worry if your credit union doesn’t have a branch on every corner. Many belong to a network of credit unions called shared branching so you can ‘bank’ at any credit union across the country!

    Good luck!


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