Banks and credit unions are changing. They now send out more electronic payments than paper checks as more than 80 percent of the population use online bill payments. Are you one of them? More ATM machines are now available in all different communities. With extended service hours on the Internet, speed and convenience of banking is a reality. What’s important to you?
Location of Nearest Branch and ATM
If you’re looking for lower fees and better interest rates or a place where you have more influence in how things are run, you may want to consider a credit union. A credit union is a membership-based nonprofit organization where every member is a part owner. To join, you can simply be a member of your community, or part of a group or organization. Credit unions often have small membership fees, (such as $5), but often offer better rates and less banking fees than large national banks.
|Ownership||Owned by Members||Owned by Stockholders|
|Checking||Offers free and low-cost checking accounts||Offers free and low-cost checking accounts|
|Savings||May give higher interest rates (the more you save, the more you earn)||May offer more ways to save (retirement plans, stock investments, etc)|
|Loans||May have lower interest rates (less to pay back in loan payments)||May have higher interest rates|
|Other Services||Usually less ATMs, fewer branches (more likely to pay for other banks ATM machines)||More ATMs, more branches (usually higher ATM fees)|