In many ways, credit unions are similar to banks, offering many of the same services.
However, they're member-owned, not-for-profit organizations, whereas banks are typically corporate-owned and for-profit.
And according to Business Insider, credit unions tend to offer low fees and attractive interest rates on loans and credit cards.
That's because they exist to serve their members, not corporate shareholders.
However, you have to meet certain criteria to join one. You may be eligible to join by virtue of where you live, where you work, or family connections.
And remember, credit unions tend to have far fewer brick-and-mortar locations to visit in person than large banks.
