Our Credit Union Vs. Banks

Okaloosa County Teachers
Federal Credit Union		 I Want to Know... Big Bank
All members with funds on deposit in the credit union, and who actively use credit union's services. Who owns it? Private investors, share holders, & stock holders, none of whom are necessarily customers of the bank.
Not for Profit, Not for Charity, But for Service. That's actually the recognized credit union credo, "People Helping People". Sums it up nicely. What's its mission? Maximum profitability; banks have led in yearly profits for years, sharing the top spots with the oil industry.
Yes, up to $250,000 per account, by NCUA, a federal agency enacted in 1934 to regulate & insure credit unions. Is it insured? Yes, up to $250,000 per account, by FDIC, a federal agency enacted in 1933 to regulate & insure banks
NCUA never uses tax money to cover losses; credit unions fund their own insurance, costing taxpayers nothing. Does it affect the taxpayer? FDIC uses tax money to cover bank losses; in fact, billions of tax dollars have been used by FDIC since its inception
An unpaid volunteer governing body elected from amongst the membership by the very members they serve; it sets policies, oversees operations, and looks after the credit union and its members. Who comprises the Board of Directors? A paid governing body that oversees banking operations. Board members are appointed by investors and are often rewarded for maximizing profit.