What is a Credit Union? The facts that separate Credit Unions from banks. What makes a credit union different from a bank, other than the name? Credit unions offer the same products and services as banks, but there are several fundamental differences that distinguish credit unions from banks, such as: • • • ownership how they handle profits sense of community Credit Unions offer the same products and services as banks. In addition to everyday products like checking, savings, and investments, credit unions also offer the latest in cutting-edge technology, like: • • • • mobile banking apps remote deposit text banking online account opening Joining a Credit Union is easy. And it’s getting easier. If you: Live in... ...Go to school in... ...Work in... ...Go to church in... ...the same city/town or county as a credit union, you can join. Your money is safe and secure in a Credit Union. Just like your money in a bank is insured by the FDIC, your money in a Credit Union is insured National Credit Union Association (NCUA) for up to $250,000. AND, in the entire history of Credit Unions, not once have they ever needed tax-payer funds to help with a bail-out. Credit Unions are considered a safe harbor during uncertain economic times. Credit Unions have local owners. Every credit union is locally owned and managed. No matter where they are, credit unions are structured to serve the communities where they operate. Their members are local and their members are also the owners. Credit unions give back to the community by providing financial education and literacy programs and by reinvesting in the communities they serve. Credit Unions are not-forprofit financial institutions. Sure, Credit Unions still make money, but they give it back to their member-owners in the form of better rates, lower fees on services, and dividends. Plus, their boards are made up of volunteer members who generously give their time to help their Credit Union make decisions that are in the best interest of it’s members. It is easy to get money from an ATM without surcharges. Bridgewater Credit Union does not charge fees for ATMs. A credit union member can also avoid other bank’s ATM surcharges by using an ATM on the SUM or COOP network. There are over 80,000 surcharge free ATMs nationwide! Credit Unions stand ready-to-lend. Right now, credit unions are prepared to help members on Main Street and actually have money to lend. American consumers continue to turn to credit unions for safe and affordable loans in good times and in bad times. So, how does this compare to a bank? Banks are for-profit businesses. A bank’s board is made up of shareholders, and when the bank makes a profit the money is given to the shareholders. Although banks offer many benefits to their accountholders, ultimately decisions are made to benefit the shareholders. Bridgewater Credit Union is a state charted community credit union founded in 1941. Anyone who lives in Barnstable, Bristol, Norfolk, or Plymouth county, or works within a 50 mile radius of our branches, is eligible to open an account with us. Go to our website bridgewatercu.com or our Facebook page (facebook.com/ bridgewatercreditunion) to find out what makes us different from a bank and what we are doing for your community. 800.987.0343 Main Office 75 Main St. Bridgewater, MA 02324 508.697.8101 Dover Branch 3 Whiting Rd. Dover, MA 02030 508.785.1738 Fairhaven Branch 41 Fairhaven Commons Way Fairhaven, MA 02719 508.992.1100 Plymouth Branch 44 Shops at 5 Way Plymouth, MA 02360 508.746.8875 Quincy Branch 62 Clay St. Quincy, MA 02170 617.786.0251 www.bridgewatercu.com facebook.com/BridgewaterCreditUnion