Credit Unions and Banks: What’s the Difference and Which One Is Right For You? (2024)

Table of Contents

  • What is a credit union?
  • What’s the difference between a bank and a credit union?
  • How do I find a credit union?
  • The bottom line

Article updated on Jun 6, 2023

When comparing banks and credit unions, look out for fees, minimum balance requirements and rates on savings products.

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Credit Unions and Banks: What’s the Difference and Which One Is Right For You? (1)Credit Unions and Banks: What’s the Difference and Which One Is Right For You? (2)

Written by

Credit Unions and Banks: What’s the Difference and Which One Is Right For You? (3)

Dan Avery

Writer

Dan is a writer on CNET's How-To team. His byline has appeared in Newsweek, NBC News, The New York Times, Architectural Digest, The Daily Mail and elsewhere. He is a crossword junkie and is interested in the intersection of tech and marginalized communities.

See full bio

Edited by

Credit Unions and Banks: What’s the Difference and Which One Is Right For You? (4)

Peter Butler

Writer

Peter is a writer and editor for the CNET How-To team. He has been covering technology, software, finance, sports and video games since working for @Home Network and Excite in the 1990s. Peter managed reviews and listings for Download.com during the 2000s, and is passionate about software and no-nonsense advice for creators, consumers and investors.

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CNET staff -- not advertisers, partners or business interests -- determine how we review the products and services we cover. If you buy through our links, we may get paid.

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Our Experts

Credit Unions and Banks: What’s the Difference and Which One Is Right For You? (5)Credit Unions and Banks: What’s the Difference and Which One Is Right For You? (6)

Written by

Credit Unions and Banks: What’s the Difference and Which One Is Right For You? (7)

Dan Avery

Writer

Dan is a writer on CNET's How-To team. His byline has appeared in Newsweek, NBC News, The New York Times, Architectural Digest, The Daily Mail and elsewhere. He is a crossword junkie and is interested in the intersection of tech and marginalized communities.

See full bio

Edited by

Credit Unions and Banks: What’s the Difference and Which One Is Right For You? (8)

Peter Butler

Writer

Peter is a writer and editor for the CNET How-To team. He has been covering technology, software, finance, sports and video games since working for @Home Network and Excite in the 1990s. Peter managed reviews and listings for Download.com during the 2000s, and is passionate about software and no-nonsense advice for creators, consumers and investors.

See full bio

CNET staff -- not advertisers, partners or business interests -- determine how we review the products and services we cover. If you buy through our links, we may get paid.

Reviews ethics statement

Why You Can Trust CNET Money

Table of Contents

  • What is a credit union?
  • What’s the difference between a bank and a credit union?
  • How do I find a credit union?
  • The bottom line
Credit Unions and Banks: What’s the Difference and Which One Is Right For You? (9)

Credit Unions and Banks: What’s the Difference and Which One Is Right For You? (10)

Written by

Dan Avery

Writer

Dan is a writer on CNET's How-To team. His byline has appeared in Newsweek, NBC News, The New York Times, Architectural Digest, The Daily Mail and elsewhere. He is a crossword junkie and is interested in the intersection of tech and marginalized communities.

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CNET editors independently choose every product and service we cover. Though we can’t review every available financial company or offer, we strive to make comprehensive, rigorous comparisons in order to highlight the best of them. For many of these products and services, we earn a commission. The compensation we receive may impact how products and links appear on our site.

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Writers and editors and produce editorial content with the objective to provide accurate and unbiased information. A separate team is responsible for placing paid links and advertisem*nts, creating a firewall between our affiliate partners and our editorial team. Our editorial team does not receive direct compensation from advertisers.

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CNET Money is an advertising-supported publisher and comparison service. We’re compensated in exchange for placement of sponsored products and services, or when you click on certain links posted on our site. Therefore, this compensation may impact where and in what order affiliate links appear within advertising units. While we strive to provide a wide range of products and services, CNET Money does not include information about every financial or credit product or service.

Credit Unions and Banks: What’s the Difference and Which One Is Right For You? (2024)
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