A bank is typically a for-profit business that answers to shareholders, while a credit union is a member-owned cooperative that exists to serve its members. That doesn’t mean every bank is expensive or every credit union is cheaper, but it changes incentives. A credit union may have fewer branches, but many participate in shared branching and ATM co-ops that expand access. If you want personal service, lower everyday fees, and competitive loan rates, a credit union may be the better fit. What matters most to you right now—lower fees, better loan rates, better tech, or better service—and which direction does that point you?