Credit Unions vs Large Banks

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Credit Unions vs. Large Banks Looking for a good to bank to do business was very tough twenty years ago. Most people got very frustrated because they just have two choices a bank A or a bank B. Nowadays, there is more options available for customer when it comes to choosing a financial institution from a large bank to a credit union when the times comes looking for bank that offer the best financial services for them. To start, a large bank is a financial institution own by investors. The banks works to make those investors more money on variety of products and services, for examples many large banks offer different types of checking and savings accounts according to the interest that the customer wants to earn. Other of the thing why people prefers to choose a large bank is the convince locations on many places. Large bank offer 24 hours of customer services by phone and online system , so customer can always get access to the most recently transaction of their accounts . For those customers that always traveling a large bank is good option avoid fees using atms from other banks. Access to online baking is other of the tool why people prefer a large bank .according to recently studies most people prefer to use the online service to transfers money to other accounts, pay bill, and check balances. On the other hand, Credit Unions are very similar to banks; however, credit unions offer some unique characteristics that make the institution different. First Credit unions have members, not customers, that mean that a member is part of the financial institutions and can be part of the board and make decisions on benefic of the members. A credit union is a non-profit, which means that that it offers better interest rates on them consumer products, as result, member of the credit union are eligible to find wonderful rates on loans and higher interest rates

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