Credit unions provide many services that banks offer, but the big difference is in their core values. At a credit union, people come before profit. You're both a member/customer and an owner, with a vote in determining the direction of the credit union. Because credit unions are not-for-profit, all earnings go back to the members in the form of great rates and low fees. Banks exist to make a profit for shareholders, so they define success differently.

Credit unions belong to many cooperative networks of ATMs or branches all across the country. There are literally thousands of shared credit union branches, and tens of thousands of ATMs to make financial transactions convenient no matter where you are--online or in your home, car, or community.

While their values and structure differ from banks, credit unions offer the same wide range of services, such as:

• Credit cards with low or no annual fees and competitive interest rates
• Debit/check cards
• Direct deposits, payroll deduction, ACH and wire deposits?
• Financial planning, education, and counseling services
• High dividend rates on savings accounts, share certificates of deposit, IRAs, and money market accounts
• Investment and brokerage services
• Online and mobile banking
• Checking accounts, often with no service fees or minimum balances
• Competitive interest rates on loans--including mortgages, home equities, lines of credit, and personal and vehicle loans
• Notary services
• Online and mobile banking
• Savings accounts
• ATMs
• Insurance plans
• Electronic tax filing

Credit unions must comply with most of the same regulations that banks do. In fact, to ensure safety and financial soundness, credit unions face more restrictions than banks in the investments and loans they can make. And, credit unions follow conservative investment practices, lend responsibly, and live within their financial means, so you can trust your credit union's decisions.

Just like the Federal Deposit Insurance Corporation (FDIC) insures bank deposits, the federal government's National Credit Union Share Insurance Fund (NCUSIF) states that your savings are federally insured to at least $250,000.

There's no membership fee. While credit unions do ask you to keep a minimum amount on deposit, that amount is very small--usually $5 to $25--and in most cases you will receive it back if you close your credit union account.