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Podcast: The College Investor Audio Show
Episode: Are Credit Unions As Good As Banks? How Do They Compare?
Description: At first glance, banks and credit unions look alike. Both offer checking and savings accounts, loans, credit cards, and certificates of deposit. But the difference lies in their structure.Credit unions are cooperative financial institutions owned by their members â the people who use their services. Instead of aiming to generate profits for shareholders, they return earnings to members in the form of lower loan rates, reduced fees, and sometimes higher savings rates.Membership is typically based on a âcommon bond.â This can mean working in a certain profession, living in a specific area, or being related to so...