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The Credit Union Difference 

What is a credit union, and what makes it different from a bank?

 

Focused on you. Owned by you.

A credit union is a not-for-profit financial cooperative owned by its members. When you open a credit union account, you become a member-owner. Credit unions exist to serve their members —not to generate profits for shareholders.

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How are credit unions different than banks?

 

Eligibility

CREDIT UNIONS

Qualify based on where you work, live, or study.

BANKS

Let anyone become a customer. 

 

Ownership

CREDIT UNIONS

Member-owned and every member has an equal vote in the decisions that shape the credit union—no matter their account balance.

BANKS

Are owned by shareholders. The more shares you own, and the more influence you have.

 

Your Role

CREDIT UNIONS

As a member-owner you have an impact on how your credit union is run.

BANKS

Owned by shareholders and decisions are made to maximize profits for them.

 

Profit

CREDIT UNIONS

Earnings are returned to members in the form of lower interest rates on loans and higher yields on deposit accounts.

BANKS

Driven by profits. Earnings are distributed to its executives and shareholders.

 

Boards

CREDIT UNIONS

Made up of volunteer members who are elected by members and serve members’ best interests.

BANKS

Made up of paid directors who are selected by shareholders and are focused on maximizing profit for investors.

 

Security

CREDIT UNIONS

Deposits are insured by National Credit Union Administration (NCUA) with coverage of up to $250,000 per member, per account type.

BANKS

Deposits are insured by the Federal Deposit Insurance Corporation (FDIC) of up to $250,000 per depositor, per account type. 

 

Access

CREDIT UNIONS

Offer nationwide access through shared branch networks, thousands of fee-free ATMs, and modern digital banking tools.

BANKS

Larger physical branch networks, advanced digital banking features, and broader ATM access but often charge higher transaction fees.

 

 

 

 


What Makes BankFund Even Better?

Created for a global community of the World Bank Group and International Monetary Fund.


Specialized services for international professionals.




Exclusive savings through mortgage rewards, premier checking rates, loan rate reductions, and fee discounts.

 

Convenient access where you work and live—with branches inside major buildings and our globally accessible digital banking.



 

What Our Members Have to Say About BankFund

 

Member Services

"I get first class service from BankFund. I have been a member since 1969 and have always been treated well. That’s why I have an account in the seven figures with BankFund."

Loan Services

"Thank you so much for your prompt response and for the detailed explanations on how a HELOC operates. Your clarity and guidance have helped me thoroughly understand it. Navigating the closing process while traveling overseas was an interesting experience, but your efficiency and support at every step made it seamless. "

Digital Banking

"I really appreciated the timely responses to my queries through the secure system. It made a big difference as I was guided expeditiously on what I needed to do and it worked in real time. Thank you for the professional support ALWAYS."

 
 
Lending

"I got my home loan from BankFund when others turned me down. Thank you all!"

Mortgages

"BankFund is awesome! They helped me secure my mortgage from being sold and transferred to other financial companies! The home mortgage department worked efficiently and I benefited from their patience and professionalism."

Fees

"My favorite thing about BankFund is no transaction fees when travelling overseas! Easy access with digital banking! "