Tinker Federal Credit Union

TFCU Home Branch

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The Credit Union Difference

Nearly 95%* of Americans in the U.S. use a financial institution for their money, but not many know the difference between a bank and a credit union.

Check out below to see why a credit union might be the right place for your finances.

Your Ownership

Credit Union: Credit union depositors are called members, and the members have 100% ownership of their credit union.
Banks: Banks’ depositors are called customers and have 0% ownership in their financial institution.

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Fewer Fees

Credit Unions: Credit unions are not-for-profit financial cooperatives. Earnings are returned to members in the form of higher savings rates, lower loan rates and fewer fees.
Banks: Banks are for-profit corporations, and earnings are paid to stockholders.

Your Vote Counts

Credit Unions: In credit unions, each member, irrespective of how much money he/she has on deposit, has one vote in electing board members. Members can also run for election to the board.
Banks: In banks, directors are selected to the board by other directors or by large stock purchase, and the number of votes they get depends on how much stock they own.

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Infographic Board of Volunteers

Elected Volunteers

Credit Unions: The board of directors is composed of elected, unpaid volunteers who reflect the diversity of the membership.
Banks: The board of directors is composed of paid stockholders who do not necessarily reflect the diversity of the customer base.

Putting You First

Credit Unions: Focus on consumer loans, member savings, along with services needed by the members.
Banks: Focus on commercial loans and accounts, along with services that generate income.

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Cooperation for Convenience

Credit Unions: Credit unions cooperate with each other and share resources for members’ convenience and savings. The CO-OP Shared Branch network is one example.
Banks: Banks compete with each other and do not share resources.

No Bail Out

Credit Unions: Taxpayer funds have never been used to bail out a credit union.
Banks: Taxpayer funds were used in the “Savings & Loan” bailout in the 1980s, and in the “Great Recession” bailouts in 2008-2009. 

Infographic never need to bail out a credit union

Ready to experience the credit union difference for yourself?

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*according to a 2015 study by the FDIC.

Download and print CU Difference Infographic

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