The CU Difference

Like banks, credit unions can make car loans, offer checking and savings accounts, ATM cards, certificates, and more. So is there a real difference? Yes, and it can be summed up in two words: ownership and purpose.


Who owns Schools FCU? You do — along with your fellow members. You can see our owners all around you. They’re your co-workers, neighbors and relatives. Banks, on the other hand, are tightly held businesses, owned by elite groups of stockholders in out-of-reach boardrooms.


Banks operate primarily to enrich their stockholders. Large banks merge to form larger mega-banks, then they close branches, lay off staff, raise fees and reduce services so they can increase profit. In contrast, the purpose of credit unions is to provide low-cost financial services to their members. Profits are returned to the membership in the form of higher dividend yields and lower loan rates, and in new services and technologies which enable us to serve you faster and more efficiently.

Like all credit unions, Schools FCU depends on member participation to succeed, so make us your first choice for all your financial needs — you'll be glad you did!