Hello, class,

There are a few pros and cons in regards to a credit union vs. a large bank. One big difference is that credit unions are non profit and banks are for profit. Credit unions are led by members and provide a service to their community. Banks are selling you that service to earn money. Credit unions usually offer lower interest rates on loans. Have you ever gone to a dealer to buy a car and they suggest going through a credit union to get the best rates? There's a reason for that. Credit unions, also, don't have all the transaction fees that are so commonly associated with big banks.

The downside of a credit union is that there are less branches available, especially compared to a national bank. This can make traveling a bit more complicated, especially if there's an issue with your account. The added convenience of finding your bank wherever you are, whenever you need it is a big plus for the big bank.

I, personally, love my credit union. They are very helpful and go out of their way to assist me whenever I need help. I'd never go back to a large bank.

Thanks for reading,

Debbie,

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