Text Size

Credit Union vs. Bank

Bank MembersWhat is the primary difference between a credit union and a bank?

The owners are the key difference. While banks have stockholders, credit unions are owned by the people who bank there, the members.

Every person who opens an account with a credit union owns a “share” in the organization and has a say in how it is run.  This is primarily illustrated through the credit union’s annual meeting and board of directors.  Board members volunteer their time on the board and serve without pay, and they are ultimately responsible for the credit union’s direction.

 
How do credit unions benefit me?

Credit unions are not-for-profit organizations.  Unlike banks who strive to raise stock prices, credit unions filter profits back into the organization creating better interest rates and smaller fees.  Plus, credit unions care more about their members than turning a profit. Credit unions provide you with services that help keep you informed and point you toward a rewarding financial journey.

 
Why should I choose Mainstreet as my credit union?

Mainstreet Credit Union began and remains a trusted part of this community since 1953. You’ll find Mainstreet has everything for your financial needs; checking, savings, home and auto loans, and convenient ATMs.  Plus, something you won’t find other places, good people who find their values on Main Street, not on Wall Street.