What is the Difference Between a Credit Union and a Bank?

When it comes to managing your money, you have plenty of options, but not all financial institutions are built the same. Many people assume that credit unions and banks are interchangeable, yet there are several key differences in how they operate, who they serve, and what they prioritize. 

At Credit Union of Georgia, we believe banking should be personal, community-focused, and designed to help you reach your financial goals, not padding someone else’s bottom line. Discover how credit unions, like Credit Union of Georgia, set themselves apart and focus on people over profit by helping members in their local communities thrive.  

“Members” Rather Than Customers 

The biggest difference between a credit union and a bank comes down to ownership. 

• Banks are for-profit institutions owned by shareholders. Their goal is to generate profits for investors. 

• Credit unions, like Credit Union of Georgia, are member-owned. That means when you join Credit Union of Georgia, you’re not just a member; you’re a part-owner. 

Your membership gives you a voice. Profits go back to you in the form of better rates, lower fees, and enhanced services. At Credit Union of Georgia, every decision we make puts our members first, not shareholders.  

Community Over Profit 

Banks often serve broad, national markets with a focus on shareholder value. Credit unions, on the other hand, are built to serve their local communities. 

At Credit Union of Georgia, we’re proud to be a part of the same communities our members call home. We invest locally through school partnerships, charitable giving, and financial education programs that empower families and students. 

Our mission is simple: to help our members and neighbors thrive financially and personally. 

Personalized Service You Can Count On  

We know that finances are personal, and we believe your banking experience should be too. 

While large banks often rely on automated systems and call centers, Credit Union of Georgia is committed to providing local, member-focused service. Our team takes the time to understand your needs and goals, whether it’s buying your first home, refinancing your car, or starting a college savings plan. 

When you bank with Credit Union of Georgia, you’re not just another account number.  You’re a valued member of our community. 

Better Rates and Fewer Fees 

One of the most rewarding benefits of joining a credit union is keeping more of your hard-earned money. 

Because credit unions are not-for-profit, we can return our earnings directly to our members through: 

• Lower loan rates 

• Higher savings yields 

• Reduced or eliminated fees 

At Credit Union of Georgia, we also offer exclusive member perks like Skip-a-Pay options, rewards credit cards, and affordable auto refinance programs that make managing your money easier and more rewarding. 

Modern Banking with a Local Touch 

Some people assume that credit unions can’t keep up with big-bank technology, but that’s far from the truth. Credit Union of Georgia offers the latest in digital banking convenience: 

• Mobile and online banking 

• Mobile check deposit 

• Bill Pay and person-to-person transfers through Zelle.  

• Contactless cards and digital wallet compatibility 

• Savvy Money tools like budget tools, credit score monitoring, personalized insights, and more 

You’ll get all the technological tools you need backed by the personal service only a local credit union can offer. 

The Credit Union Advantage  

With over six decades of service to our community, Credit Union of Georgia stands apart by combining financial strength with a personal touch. 

Our members enjoy: 

• A full range of products, from checking and savings to loans and credit cards. 

• Competitive rates and value member rewards.  

• A comprehensive suite of Business Account solutions designed to support local business growth. 

• Community involvement that makes a real impact. 

• Local decision-making and personalized financial guidance.  

At Credit Union of Georgia, we’re committed to helping you reach your goals every step of the way. 

Join a Community That Cares 

The difference between a bank and a credit union is more than financial; it’s personal. 

At Credit Union of Georgia, we’re not here to make profits off our members. We’re here to make a difference for our members. When you join, you’re becoming part of a community that truly cares about your financial well-being. 

Experience the Credit Union of Georgia difference and become a member today.