About Credit Unions
New to credit unions? Here’s the low-down:
| Credit Unions | Banks |
|---|---|
| Not-for-profit cooperatives | Institutions run for profit |
| Return earnings to members through lower loan rates, higher savings rates, and free or low-cost services | Return profits to a small group of stockholders at the expense of their customers |
| Make loans only to members - serves the membership, capital remains in the community | Often make loans to outside borrowers, including foreign countries and commercial enterprises |
| Have member/owners - each person who deposits money has a share of the ownership | Customers have no right of ownership |
| Membership elects the Board of Directors | Customers have no voting privileges |
| Have a volunteer Board of Directors that serves for no compensation | Have a paid Board of Directors that serves for financial gain |
| Serve only those individuals within their field of membership | Serve anyone in the general public |
| Service driven - we care about people | Credit driven - care only about profits |
| Believe competition benefits all consumers | Try to eliminate competition through legislation and lawsuits |
About North Bay Credit Union
Join an institution that truly cares about you as a person, not just a number. North Bay Credit Union is Sonoma County’s oldest credit union with roots deeply entrenched in the North Bay community. Not only does every dollar we make stay in the credit union, but every deposit goes right back into local communities’ economies to support you and your neighbors.
We’re proud to say that we save our Members an average of $281 per year with fewer fees, great service, and more access, including unlimited access to over 30,000 free ATMs nationwide!
Keep your money local, and switch to NBCU today!
