Credit Union vs. Bank
Member-owned financial institution.
What is a credit union?
Best for everyday spending.
What is a checking account?
Keeps your money safe from loss or theft.
Why is it important to have a bank account?
Spending less than you earn.
What is living within your means?
The 4-digit number used to access your debit card at an ATM.
What is a PIN(Personal Identification Number)?
For-profit and owned by shareholders.
What is a bank?
Helps you earn interest and grow your money.
What is a savings account?
Direct deposit allows you to get your paycheck without cashing a check.
What is direct deposit?
Setting money aside for future goals or emergencies.
What is saving?
Spending more than what’s in your account can lead to this.
What is an overdraft fee?
Credit unions return profits through lower fees and community support.
What is the benefit of being a non-profit?
Linked directly to checking for purchases.
What is debit card?
Credit unions may let you get paid up to two days early.
What is early direct deposit?
Regularly checking your account helps prevent this.
What is fraud or overdraft fees?
Reporting this quickly protects your money.
What is suspicious or unauthorized activity?
Open to the general public with no membership requirements.
What is a bank?
Used at ATMs for withdrawals or deposits, not for purchases.
What is an ATM card?
Builds a record of financial activity needed for renting or loans.
What is a financial history or transaction record?
A plan for spending and saving your money.
What is a budget?
Checking your balance regularly helps you stay on track with this.
What is your budget or financial goals?
You become a part-owner when you open an account here.
What is a credit union?
Savings accounts limit how many times you can withdraw each month.
What is a withdrawal limit?
Allows 24/7 access to your funds using your card, app, or ATM.
What is convenient access?
Setting up automatic savings each paycheck builds this.
What is consistency or a savings habit?
If you see an error on your statement, do this immediately.
What is report it to your bank or credit union?