What's the difference?
What makes a Credit Union Different from a Bank
The main difference between a credit union and a bank is that banks are for-profit institutions, while credit unions are not-for-profit. Credit unions are owned by their members, who are also the people who use them. Banks, on the other hand, are owned by their shareholders.
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Why should you use them?
There are a few key reasons why using a credit union is often better than using a bank. First, credit unions are typically much more affordable than banks. Second, credit unions are more likely to offer personalized service and attention. Third, credit unions typically have fewer fees and better rates on loans and deposits. Finally, credit unions are owned by their members, which means that profits are returned to the members in the form of lower interest rates, higher dividend payments, and other benefits.
What makes us so special?
Beehive Credit Union
Beehive is a not-for-profit member-owned cooperative. We have no stockholders and are not obligated to pay dividends to investors. Therefore we can charge lower loan rates, pay higher deposit rates, and charge lower fees. At beehive, our strategy is to always keep costs low so that fees and rates can also be low and competitive. For example, although we serve and make contributions in our schools and communities, we don't spend large sums of money to make ball fields or event centers likes banks do. We also don't pay hundreds of dollars to entice people to join beehive because every expense paid by the credit union in some way comes out of the pocket of the members. Keeping expenses low allows us to charge lower fees.
We recently studied the cost of five financial services typically used by families. Those services include savings, checking, loans, 30-year mortgages, and credit cards. We compared your cost to used these five serves at Beehive with the national cost average for banks and credit unions. The results: Beehive member save almost $1,200 per year by being a member and using Beehive services. Beehive provides incredible services at a low cost to the members we serve. Tell your friends and family to open an account at Beehive and experience the Beehive difference.
Lower Loan Rates
Higher Deposit Rates
Lower Fees
Beehive goes above and beyond
Banking With Beehive Credit Union
When you bank with Beehive Credit Union, we have you in mind. Everything we do is for the benefit of our members. Choose to bank with us and rest assured that you and your finances are in good hands.
