Financial Depository

Justin Burger

Commercial Bank

  • For Profit
  • Anyone can use them
  • Has Insurance if something happens to the bank
  • Usually the largest depositories
  • Offer more services such as Credit, Debit, Savings, Etc.

Credit Union

  • None Profit
  • Must be a member through a "common bond"
  • Often pay higher interest rates and have lower fees
  • Still have many services but likely not as many as commercial banks
  • Has Insurance if something happens to the Union