The Differences Between Credit Unions and Banks

If you aren’t yet a member of a credit union, it’s time to learn more about them. Being a member of a credit union offers significant advantages compared to being a customer of a bank. Just like at a bank, your deposits at a credit union are insured and backed by the federal government. However, credit unions have a great deal more flexibility than banks regarding their lending decisions. This means that as a member of a credit union, you can enjoy low loan interest rates.

Hear more about the advantages of credit unions by watching this video. It features a financial expert who explains the differences in ownership between banks and credit unions. He also discusses how you can join a credit union.

For superior online banking in O’Fallon, you can turn to GCS Credit Union . Call us at (618) 797-7993 or visit us online to learn more about our secure online banking platform and highly competitive interest rates for our members.

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