What it Means to be Different

There's a big difference between credit unions and banks. While we're not bank-bashing here, we do want to point out a few major benefits of not only being a part of Nebraska Energy Federal Credit Union but a credit union in general. Discover the credit union difference, and what it truly means to go from customer to member.

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How is a Credit Union Different from a Bank?

Credit Union Vs. Bank

Credit UnionsBanks
Credit unions are not-for-profit organizations Banks are for-profit businesses and corporations
At a credit union, you are a member At a bank, you are a customer
Since credit unions are not-for-profits who have members, all of the money earned goes back to members in the form of low rate loans, lower fees, higher dividends and free services. Banks aren’t owned by customers, but stockholders. Therefore, all profits go back to stockholders.
Since members are made up of the community, by joining a credit union, you are directly supporting your community. When you do business at a bank, you are supporting stockholders.
Credit unions are managed by a volunteer Board of Directors who are voted in by members. That means they make decisions with the member’s best interest in mind. Decisions are made by stockholders, not customers. As business owners, their primary purpose is profit-driven.
Credit unions are always looking for ways to return profit to members. Some, like Nebraska Energy Federal Credit Union, do it through lower fees and higher dividends. A bank focuses more on rewards programs, where you have to spend a lot more to get more.