Credit Unions Vs. Banks
What makes us different?
There are many choices when it comes to money: save or spend, invest in stocks, use a credit card or a debit card—the list goes on. But where do you put your money? Bank or Credit Union? How do they work and how do you choose one?
You people at Granite State Credit Union are the best. The NH way is so much better when it comes to the way you all answer my questions. It makes it a pleasure doing business with you.
- Denise N.
Member Vs. Customer
- As a member of GSCU, you are a voice of the credit union, and an owner, not just a customer! Your suggestions, feedback, and opinions matter! Each member has a vote at the credit union's Annual Meeting of the Membership.
- At a bank you are a customer. Customers at a bank do not have any ownership interest and they cannot participate in Annual Meetings.
Non-profit vs. for-profit
- Credit unions are member-owned, non-profit financial cooperatives that offer a full range of financial services to their members. The earnings of a credit union, minus operating expenses, are returned to members in the form of higher interest rates on deposits and lower loan rates.
- Banks on the other hand are for-profit organizations using their resources to maximize earnings. Like other for-profit companies, banks distribute earnings only to shareholders in the form of dividends.
Benefits of GSCU
- GSCU offers more personalized customer service and is more flexible considering your credit history and your personal story.
- Members receive higher interest rates on savings accounts, lower rates on loans, and lower fees.
- GSCU focuses on financial education and seeing their members thrive in life. At GSCU, we strive to reduce financial stress and empower our members to successfully manage their finances, by providing the tools and resources needed to navigate the path to financial success! We’re here to help you. When you succeed, we succeed.
- We roll up our sleeves and support our community. We believe in giving back and helping the communities we serve prosper.
- Your deposits at GSCU are federally insured up to $250,000 by the National Credit Union Administration (NCUA). Individual Retirement Accounts or IRAs are insured separately to $250,000 each.
- Members can take pride and comfort in the fact that decisions are made locally. As a member your voice matters!
Credit unions work together.
GSCU partners with Co-Op Shared Branching. Enjoy access to over 6,000 branch locations across the country. And don’t forget free access to 30,000 ATM’s across the world. Access GSCU anywhere with Shared Branching!
