Credit Unions, like Smart Financial, have the same safe, secure, and convenient technologies as banks including a mobile app, online banking, ITMs, ATMs, and more! Read below to learn some of the key differences.
Who Benefits?
CREDIT UNION
Credit Unions are not-for-profit, returning profits back to members through better rates, fees, and services.
BANK
Banks are for-profit, returning profits back to stockholders.
Who Can Join?
CREDIT UNION
Credit Unions have members who can join based on meeting certain criteria. This is often easy criteria to meet like living or working in a specific area!
BANK
Banks have customers and are open to the public.
Who's In Charge?
CREDIT UNION
Credit Unions are financial cooperatives, owned and operate by members. They are governed by a Board of Directors who serve without pay.
BANK
Banks are owned by private investors and stockholders and chartered by state or federal government. They are governed by a paid Board of Directors.
What's the Customer Service Like?
CREDIT UNION
Credit Unions offer local, personalized service and are community-oriented.
BANK
Banks offer less personalized service and interactions as they serve to the interest of the stockholders.
What Products Are Offered?
Credit Union
Credit Unions offer the same products and services as banks.
BANK
Banks offer the same products and services as credit unions.
Is the Technology the Same?
CREDIT UNION
Credit Unions like Smart Financial, have the same safe, secure, and convenient technologies as banks including a mobile app, online banking, ITMs, ATMs, and more!
BANK
Banks offer similar technology as credit unions.
