How Does a Credit Union Differ from a Bank?

Where you choose to save your money has a substantial impact on your financial future. At Clark County Credit Union, we know there are plenty of financial institutions to choose from and perhaps your first big decision is to decide whether you should select a traditional bank or a credit union. Here are a few of the most notable differences between these two financial institutions:

Membership

Nearly anyone can walk into a traditional bank and open up an account; however, credit unions are exclusive to members only. These not-for-profit institutions are member-owned, and therefore have certain qualifications that must be met to earn a membership.

Rates & Fees

Because credit unions are not-for-profit, they’re able to offer higher savings rates and lower interest rates on credit cards and loans which are often significantly less than rates at traditional banks. Larger banks will often have more expensive service and ATM fees than credit unions.

Customer Service

While both institutions strive to provide exceptional customer service, credit unions go the extra mile to deliver unparalleled service to their members. Since the members help direct the future of the company, they are more than just customers — they’re partners.

Become a CCCU member/owner today, and reward yourself with higher deposit rates and lower fees. Contact us at 702-228-2228 to learn more about becoming a Clark County Credit Union member.