Ryder Credit Union

Credit unions offer something to members that larger public banks don’t. Because credit unions do not have shareholders to answer to and because they are not-for-profit,they have the luxury of offering higher savings rates and lower loan rates than traditional banks.

As a credit union customer,you are also an owner since credit unions are member-owned.

While this doesn’t necessarily give you much say in how the business is run,it certainly changes the dynamic for you as a customer and tailors the experience to your satisfaction instead of the satisfaction of shareholders looking for profit—because as an owner,you are looking for service and fair practices,not profit.

If you don’t have access to a credit union,a small regional bank may be able to offer you similar benefits. While you won’t be considered a member-owner of the bank,they are usually more concerned with tailoring their practices toward satisfying customers than larger banks and you have a better chance of developing a personal relationship with the bank.

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Q&A: Credit unions vs. banks

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