LCCU VS. BANKS

THERE’S NOTHING LIKE A CREDIT UNION!

When compared to a bank it’s like comparing

apples-oranges2

There is a big difference. Here is just a sample.

Feature

Credit Unions

 

Banks and S & L’s

Philosophy Not for profit, not for charity, but for service.  Earnings returned as better rates, fewer & lower fees, and improved services.   Strictly Business orientated. Banks generate profit for shareholders.
Control/Mgmnt Member elected, unpaid volunteers   Shareholder-elected, paid directors.
Loans Loan rates are generally lower than banks. CU’s help members repair their credit.   Loan rates are usually higher than credit unions.
Fees Fees are usually lower than banks.   Fees account for nearly 44% of bank’s profits.
Safety Deposits insured by the NCUA to at least $250,000.   Deposits insured by a Government agency up to $250,000.

Descriptions are generalizations. Services, individual credit unions, banks, and
savings & loans offers will vary.

SYMBOL OF QUALITY AND SERVICE

LCCU-logo-small

“Where people are worth more than money!”