| Not-for-profit, member-owned financial cooperative. Each member owns the credit union. |
For-profit institution. Owned by a few stockholders. If a customer doesn't own bank stock, he or she is not an owner. |
| Excess earnings, after reserve requirements are met, are applied to lower interest on loans, higher interest on savings, or development of new products and services that members have requested. |
Profits are paid to stockholders. |
| Self-governed. Each member has one vote in the election of the board of directors regardless of how much money the individual has deposited in the credit union. |
Only stockholders vote for the board of directors, based upon the amount of stock owned. |
| Volunteer board of directors who are members of the credit union and users of the credit union services. |
Board of directors are paid. They may not be from the community and they may not even use the bank's services. |
