Depository Institutions

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CREDIT UNIONS VS COMMERCIAL BANKS

CREDIT UNIONS

Credit unions are similar to traditional banks in the sense that both institutions offer financial products to customers. Credit union members, like bank customers, have access to checking and savings accounts, CDs, loan products, and credit cards.

WHY CHOOSE A CREDIT UNION

- Lower loan and credit card rates


- Higher interest rates


- Lower fees


- More flexibilities


- Less complications

Commercial Banks

Commercial Banks are for‐profit depository businesses that offer financial services to both consumers and other businesses. Banks are usually the largest depository institutions and offer the widest variety of services to customers.

WHY CHOOSE A COMMERCIAL BANK

- Multiple bank & ATM locations


- Many resources available


- Government protections


- International offices