CU vs. Banks

FDIC insures which for up to $250,000?

• Credit Union

• Bank

NCUA insures which for up to $250,000?

• Credit Union

• Bank

Which is better a Credit Union or a Bank?

• Credit Union
• Bank
• Depends on your financial needs

Which is not-for-profit?

• Bank

• Credit Union

• Both

Which is for profit?

• Bank

• Credit Union

• Both

What is a Credit Union

• a profit financial institution owned by shareholders

• a profit financial institution owned by members

• a not-for-profit financial institution owned by shareholders

• a not-for-profit financial institution owned by members

How are credit unions structured?

• Democratically, every member can vote

• Only shareholders can vote

Which Board of Director gets paid?

• Banks

• Credit Unions

Who elects the Board of Directors for a Bank?

• Shareholders

• Every member

• Employees

What is the difference between banks and credit unions?

• there is none

• banks are non profit

• credit unions are for service

• banks are for profit