An interesting (and slightly declining) artifact of the U.S financial system are credit unions, which are essentially small, localized, nonprofit banks.

Credit Unions are awesome since they are operate as nonprofits, which means they often have better customer service, lower fees, better interest terms for the customer, and more.

So why doesn’t everyone use them? They’re usually limited by geographic location for the customers they can serve. Plus, since they’re not run like a business, often times, their marketing just isn’t up to bar.

That doesn’t kill the case for big banks though — banks, due to sheer scale, have more branches, ATMs, technology, etc.

Definitely a personal preference, but check out your local credit union if you’re looking for somewhere to park your money or get a loan.

#TheMillionImpactMission