Both credit unions and banks offer almost entirely the same products and services, but it's how they offer those services that make them different.

• At a credit union, you are a member not a customer. You are a member because you are an owner of the credit union. Banks have customers because only a few people (stockholders) own the bank.
• At a credit union, you qualify for membership through where you live or work, being related to someone who already is a member or through church affiliations.
• When a savings account it opened at a credit union, it is called a share account because every member is an owner of the credit union.
• Credit unions typically charge lower loan rates, pay higher dividends on savings, and have fewer fees.
• Credit unions are considered not for profit because all profits are returned to every member, in the form of rates, services or special dividends.
• There are over 80 million people nationwide who have credit union accounts.