Why should I choose a credit union over a bank?

Direct Answer:

Credit unions like Riverways Federal Credit Union are not-for-profit, member-owned financial institutions that exist to serve their members, not to maximize profits for shareholders. This difference means we can return earnings to members in the form of lower loan rates, higher savings yields, and fewer fees than most traditional banks.

Expanded Details:

When you join Riverways FCU, you’re not simply opening an account — you’re becoming a member-owner. That means you have a voice in how we operate, and the decisions we make are based on what’s best for our members and our communities.
Unlike large national banks, we make all lending and service decisions locally, with a focus on building relationships and supporting the people who live and work in our service area.

Banks operate as for-profit corporations with the goal of increasing shareholder value. That structure often leads to higher fees, stricter loan terms, and decisions made by people who may not even live in your state.

Credit unions, on the other hand, operate on a “people helping people” philosophy. Every member is an equal owner, and our profits are reinvested back into the credit union — improving products, lowering costs, and funding community programs.

Service & Relationship Example:

Imagine you’re applying for an auto loan. At a big bank, your application might be reviewed by an automated system with strict corporate guidelines. At Riverways FCU, your loan request is reviewed by real people who understand the local economy and can work with you on flexible terms. This personal approach often leads to faster approvals, lower interest rates, and loan options that fit your life — not just a corporate spreadsheet.

Community Impact:

When you bank with Riverways, your money stays local. That means your deposits help fund home loans for families in your town, small business loans for your neighbors, and community projects that make our area stronger. Over the past year, Riverways has sponsored local events, supported schools, purchased livestock from youth agricultural programs, and partnered with nonprofits to meet community needs.

Security & Trust:

Credit unions are federally insured by the NCUA (National Credit Union Administration) up to at least $250,000 per depositor — the same level of protection that banks receive through the FDIC. You can trust that your money is just as safe, with the added benefit of being in the hands of a member-focused institution.

Call-to-Action:

If you’re ready for a financial partner who knows your name, values your goals, and reinvests in your community, Riverways Federal Credit Union is here for you. Visit one of our branches or apply online today to experience the credit union difference.