| Feature | Credit Unions (CUs) | Banks and Savings & Loans |
| Philosophy | Not for profit, not for charity, but for service. Earnings returned as better rates, fewer and lower fees, improved services. | Business orientation. Generate profit for shareholders. |
| Control/Management | Member-elected, unpaid volunteer directors. | Shareholder-elected, paid directors. |
| Savings | Share and money market accounts, share certificates, and other plans available. | Regular savings and money market accounts, certificates of deposit, and other plans available. |
| Loans | A wide variety of loan types including personal, auto, share-secured, home improvement, mortgage, student and credit cards. Loan consideration takes into account applicant's character and capacity to repay. Loan rates generally lower than at banks and S&Ls. | A variety of loan types but banks traditionally are oriented toward commercial loans, S&Ls oriented toward mortgages. Loan consideration usually based on applicant's credit record and capacity to repay. Loan rates usually higher than CU rates. |
| Share draft/checking | Most CUs offer at least one of the following share draft accounts: economy checking, regular checking, or interest-bearing checking. | Checking account types are similar, but more banks charge higher fees associated with their accounts than do CUs. |
| Fees | CU fees typically are fewer and lower than bank fees. CUs rarely price fees to produce revenue. | Fees account for nearly one-third of banks' total profits. |
| Safety | Deposits in nearly all CUs are insured up to $100,000 by federal (NCUA) or private insurer with limits up to $250,000 for select retirement accounts. | Nearly all accounts insured up to $100,000 by a government agency (FDIC) with limits up to $250,000 for select retirement accounts. |
