Credit Union vs Bank

Learn the credit union difference at Scott & White Employees Credit Union

Terms	Scott & White Employees Credit Union	Banks
Definition	Not-for-profit financial institution offering a full range of financial products and services.	For-profit corporations which offer a full range of financial products and services.
Profits	Earnings are returned to members through services like free ATMs, better rates, and lower fees.	Earnings go to stockholders in the form of dividends.
Asset Protection	Insured by NCUA up to $250,000.	Insured by FDIC up to $250,000.
Decisions	Scott & White Employees Credit Union is governed by our members, and elections are based on a one-member, one-vote philosophy.	Banks are governed by paid shareholders. Voting rights depend on the number of shares owned.
Access	Convenient access to more than 5,600 branch locations from coast to coast	Banks require customers to use their branches for services to pay fees. Some services are unavailable outside the bank.
Community	Scott & White Employees Credit Union is a local, community-based financial institution. Members support their local communities when they bank at a credit union.	Banks are big! The average size of a bank is double that of a credit union.
Membership	Scott & White Employees Credit Union has members, not shareholders.	Banks have customers and shareholders. They must make money from their customers to please shareholders.

SWECU Banking & Loan Products

We offer our members a wide variety of financial products and services. You can save money with a low-interest rate on your loan. Then, invest and grow your money with one of our savings accounts.

Combine interest and savings rates with the convenience of our shared branch locations, and you have the best banking option for so many Texans.

SWECU financial services:

Before We Continue: Are You A Member?

We have a state charter at Scott and White Employees Credit Union that began in 1962. We’ve since grown to more than 4,500 members, and we’re looking to have you join us!

You’re eligible to join our member-owned financial cooperative if you meet the following criteria: