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Its worth asking questions when youre deciding whether to pick a credit union or a bank.
The key distinction: a credit union is a not-for-profit financial institution.
A bank, on the other hand, operates for profit.
When is it better to pick a credit union over a bank?
Its an intricate question, given that they do share many qualities.
However, experts do seeinstances where a credit union is the more appropriate choice.
Still, credit unions tend to have lower fees than banks.
Credit unions tend to be more member-focused and often offer more personal service, Kullberg said.
If you like where you live, a credit union makes sense.
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