Why Credit Unions are Different

When you walk into our lobby, or call a loan officer, what makes NASA Federal Credit 
Union different from a bank isn't immediately apparent. The two financial institutions 
may offer similar products and services. But there the similarities stop. Crucial 
differences exist--in ownership, in the cost of borrowing money, and in the use of 
services.

§	You own your credit union. Credit unions are member-owned nonprofit financial 
cooperatives dedicated to improving members' lives. More than 80 million members own 
10,500 U.S. credit unions with combined assets of $450 billion. Stockholders own banks 
(with combined assets of $6.2 trillion). Banks make money for stockholders, not for 
customers.

Credit unions are the only democratically controlled financial institutions in the United 
States. You and other members elect a volunteer board of directors to oversee the credit 
union. The manager or president/chief executive officer reports to this board. Bank 
directors, however, are paid and legally bound to make decisions that benefit 
stockholders, not customers.

§	Credit unions have the best rates. Credit unions price loans, pay interest on funds 
you've deposited, and charge fees to provide you with high-quality, low-cost services. 
Banks price products and services to make a profit.

You earn more on your savings--in some cases up to one percentage point more--at the 
credit union. 

Credit union loan rates also are better. The average credit card interest rate is four 
percentage points better at credit unions than at banks. And credit union auto loans 
average almost one and one-half percentage points less than banks' auto loan rates. Credit 
unions make consumer loans and some member business loans. Banks offer consumer 
loans, but really emphasize business loans.

§	Credit unions educate members about money matters. They provide publications 
such as newsletters to keep you advised of rates, loan sales, and financial trends that 
affect you. NASA Federal Credit Union stresses education, providing materials and 
holding seminars on topics of financial importance to help you make more informed 
financial decisions. Many banks simply advertise their rates and sell their services.

Because you're an owner of NASA Federal Credit Union, you have a say in how we do 
business. Let us know how you think we're doing, and what services you want at your 
credit union.  Call us at 301-249-1800 or 1-888-NASA-FCU (1-888-627-2328) or visit us 
online at www.nasafcu.com.