Your credit union provides more opportunity because it is owned and governed by the people who utilize its products and services. Every member owns a share of the credit union, and the credit union operates to promote the financial well being of all its members. And because we're not-for-profit, members earn higher dividends on savings, pay lower rates on loans and appreciate a higher level of service overall. Credit unions and banks offer many of the same products and services; however they differ in many ways. Here's how...Why Join A Credit Union
KCFCU
Local or National Banks
Type of Organization
Not for profit, not for charity, but for service
Generates profit for shareholders
Who Owns It?
Members
Shareholders
Board of Directors
Unpaid volunteers
Paid shareholders
Fees
Typically, we have fewer and lower fees than those of banks
Fees generally account for one-third of banks' total profits
Income Goes To
Members
Shareholders
Interactions With Like Financial Institutions
Cooperative
Competitive
Deposits Insured By
NCUA (National Credit Union Administration)
FDIC (Federal Deposit Insurance Corporation)
