For more than 100 years, credit unions have existed because banks ignored consumers in need of safe, affordable financial products and services. Since the first credit union was founded in 1909, banks ...

The most important difference is ownership. Banks are controlled by shareholders who expect profits. Credit unions are member-owned cooperatives. Each person who joins is both a customer and an owner.

COMMENTARY: Understanding the differences between banks and credit unions can help you decide where to save, borrow and plan writes Michael Goad of Dow Credit Union.

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated. Featured on WGN Radio’s Home Sweet Home ...

Matt Webber is an experienced personal finance writer, researcher, and editor. He has published widely on personal finance, marketing, and the impact of technology on contemporary arts and culture.

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. Amid a turbulent economic climate and rising costs, some ...