When you belong to a credit union you’re a member of a not-for-profit financial institution. That means any profits made go back into the credit union in the form of better rates and lower fees for the members, who own and control the credit union.
Credit unions offer many – and, in some cases, all – of the same products and services offered by for-profit banks including checking, savings, loans and online banking. Credit unions even have their own nationwide ATM network.