Infographic: Credit Unions vs. Big Banks – How Do They Stack Up?

Credit unions have long been touted as an alternative to banks, though only recently have more and more customers made the switch over to the financial cooperative.

Unlike banks, credit unions are not-for-profit financial institutions that are owned by the same people who belong to the union. Since every member of a credit union is an equal owner, customer satisfaction tends to be higher as well. According to Bankrate.com, “Credit unions have topped the consumer satisfaction ratings in American Banker’s annual survey for 12 years in a row.”

Credit unions have long been touted as an alternative to banks, though only recently have more and more customers made the switch over to the financial cooperative.

Unlike banks, credit unions are not-for-profit financial institutions that are owned by the same people who belong to the union. Since every member of a credit union is an equal owner, customer satisfaction tends to be higher as well. According to Bankrate.com, “Credit unions have topped the consumer satisfaction ratings in American Banker’s annual survey for 12 years in a row.”

Check out this infographic which charts the key differences between credit unions and banks and discover if either financial institution can help you manage your money.

Source:  IBM Southeast Employees’ Federal Credit Union