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Credit Unions: The Pros And Cons Of Moving Your Money To A Not-For-Profit Financial Institution

The Huffington Post  |  By Posted: Updated: 05/10/2012 2:06 pm

Credit Union

Credit unions have seen a rise in membership as big banks have come under scrutiny for their never-ending profit-making measures.

While the Occupy movement, Bank Transfer Day and the fallout of Bank of America's $5 debit card fee have all heightened public skepticism of large financial institutions, big banks still control more than 12 times the assets of credit unions, according to the National Credit Union Administration's figures.

And though credit unions provide cost-effective financial services and money management options, they might not be the most suitable choice for everyone. Check out the infographic below to determine which financial institution would be a best fit for you.

Clarification: The original headline of this story misidentified credit unions as non-profit organizations. In fact, credit unions are not-for-profit organizations.

2012-05-08-BanksvsCreditUnionsInfographic1000px.jpg

Infographic by IBM Southeast Employees’ Federal Credit Union

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