WHAT MAKES A CREDIT UNION DIFFERENT FROM A BANK?

See what sets us apart from banks and why being different is a good thing.

At first glance, banks and credit unions may seem pretty similar. They both take care of your money, offer loans and provide financial services. But if you’re looking for a financial institution you can trust, credit unions differ from banks in a few significant ways.

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What is their motivation?

Desert Financial

We want to help people achieve their financial goals.

Banks

They want to make a profit for their shareholders.

Where do the profits go?

Desert Financial

Our profits are given to our members, shared with our community and invested back into our credit union.

Banks

Their profits are paid to shareholders.

What products do they offer?

Desert Financial

We offer auto loans, home loans, savings accounts, credit cards, business banking and more.

Banks

They offer auto loans, home loans, savings accounts, credit cards, business banking and more.

Who can open an account?

Desert Financial

Anybody in the Phoenix area can open an account with us.

Banks

Anybody in the Phoenix area can open an account with them.

Are they federally insured?

Desert Financial

We are federally insured up to $250,000 by the NCUA.

Banks

They are federally insured up to $250,000 by the FDIC.

There’s nothing wrong with banking at a bank. We just believe that we have a better way.

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