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Choosing a financial institution is a personal decision with a huge influence on how you manage your money, and your time. Let’s take a minute to look at some important things you’ll want to consider when deciding who to trust with your assets.
 

 Workers Credit UnionBanks
Products
and
Services

  • Savings and checking accounts

  • Credit cards

  • Auto loans, personal loans, and mortgages

  • Investment products


  • Savings and checking accounts

  • Credit cards

  • Auto loans, personal loans, and mortgages

  • Investment products

Technology

  • Mobile Banking Apps

  • Online Banking


  • Mobile Banking Apps

  • Online Banking

Profits

  • Not for profit

  • Excess earnings get distributed back to members in the form of profit-sharing and better interest rates


  • For profit

  • Excess earnings get distributed back to shareholders

Access

  • 15 branches with plans to open more

  • ATM network sharing

  • Access to a network of FREE ATMs


  • Closing more and more branches

  • No ATM sharing service

  • Higher ATM service charges for other ATM use

Fees

  • On average, the largest credit unions have lower fees than the largest banks


  • On average, the largest banks have higher overdraft fees and higher online monthly bill pay fees than the largest credit unions

Satisfaction

  • Named in top three of Forbes Best-In-State credit unions 2018


  • The lowest-scoring financial institution in American Customer Satisfaction index was a large bank

Safety

  • Insured by the MSIC (Massachusetts Share Insurance Corporation) and the NCUSIF (National Credit Union Share Insurance Fund)


  • ​Insured by the FDIC (Federal Deposit Insurance Corporation)

Ownership

  • Owned by members

  • Run by a volunteer board of directors

  • Members can vote on how their credit union is run


  • Owned by shareholders

  • Run by a paid board of directors

  • Customers have no say in how their bank is run

 
Whether you choose to go with a credit union or a bank, you can now rest easy knowing that you’ve done your homework and are making the best decision for YOU. For more details, take a look at our Choosing Your Financial Institution infographic.

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