Credit Unions vs Banks

Member-Owned and Operated

Credit unions are run by a democratically-elected, volunteer Board of Directors and serve members, not stockholders. Any profits are returned back to member-owners as better rates, lower fees, and personalized services.

Not-for-Profit Cooperatives Working to Improve Lives

Credit unions promote the well-being of members. We provide affordable products and services to people of all financial means, including many in low-income and underserved communities. Our cooperative structure creates a cycle of mutual assistance towards the common goal of the financial well-being of members. One member’s savings becomes another member’s loan.

Socially and Fiscally Responsible, Tax-Paying Entities

Credit unions pay taxes, including sales, use, real estate, property, and payroll taxes. However, they are exempt from certain taxes, like federal and state income taxes, because they are not-for-profit cooperatives owned by members, unlike banks which are for-profit corporations. 

Experience the Credit Union Difference with BHFCU

• You receive higher rates on savings, lower rates on loans, low or no fees, and the personalized service you deserve. 
  • As a BHFCU member, you have access to more than 35,000 surcharge-free ATMs and 5,500 shared branching locations nationwide through the CO-OP Network.
• Meanwhile, banks continue to charge more, and higher, fees to pay profits to stockholders. As a member-owner, you are our priority. That's why we keep fees to an absolute minimum.
• We’re passionate about serving your financial needs. Our employees are here to help you succeed at every stage of life by providing the great products and excellent service you need to achieve your personal, homeownership, and business goals.
• We are a local, community-based financial institution. As a credit union member, you're joining a family that's dedicated to improving lives in our community.
• And you can rest assured your money is safe and insured by the National Credit Union Administration.