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.
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.