Credit unions and banks provide similar appearing products and services – so what’s the difference?
Credit unions exist to serve the best interests of their members, unlike banks that maximize profits to benefit outside shareholders. The core philosophy of credit unions is built on putting members first.
Credit unions are not-for-profit cooperatives that offer a full range of financial products and services. Express CU members own and democratically govern the credit union so that higher returns are paid on savings, lower rates paid on loans, and fewer fees assessed. The main focus of credit unions is supporting their members and local communities.
Your credit union membership provides the same federally insured deposit protection up to $250,000 as a bank without paying the higher fees and interest rates of a profit driven institution. Credit Union deposits are insured by the National Credit Union Association NCUA. Credit unions like Express provide access to more than 30,000 surcharge-free ATMs. You have free and convenient access to your accounts no matter where you are in the US.
There are clear reasons why over 100 million people in the US have chosen credit unions over banks. Members understand the benefits of belonging to a self-owned cooperative that really cares about them and creates a community of shared resources and support.
At Express CU the bottom line is all about benefiting you the member. We believe in the power of financial education and providing accessible resources to members. Knowledgeable members can make smart decisions in selecting products and services, and choosing a financial partner that will earn your loyalty year after year. We’re here for you with a human touch – working together to build a stronger future and helping to support when unexpected situations arise.