Park Community Credit Union - CU Difference

You can do all of your banking here, just don’t call us a bank.

The simplest way to explain the difference between a bank and a credit union is that banks are for-profit institutions and credit unions are not-for-profit. Banks often serve their shareholders, while credit unions serve their members, meaning better service and better rates.

Simply open an account with Park Community to see the difference.

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The Credit Union Difference At-a-Glance

Credit unions
Not-for-profit.
Owned by its members.
Earnings returned to members in the form of dividends, higher savings rates, and lower loan rates.
Democratically controlled by members.
Members share a common bond– employer, church, community, etc.
Members elect a volunteer Board of Directors to represent their interests.
Federally insured up to $250,000 by the NCUA, National Credit Union Administration. IRAs up to $250,000.
Member-service driven.
Banks
For profit.
Owned by stockholders who may or may not have accounts.
Earnings returned to shareholders, not to depositors.
Controlled by stockholders and paid officials.
No built-in common interest.
Have a paid Board of Directors who represent the owners; customers do not have voting privileges.
Federally insured up to $250,000 by the FDIC, Federal Deposit Insurance Corporation. IRAs up to $250,000.
Profit-driven.