You should go with a credit union if:
- You want your say. A credit union is a nonprofit, membership-run financial institution. This means that when you become a member, you own part of the bank. Once you join, you automatically get voting privileges to elect the board of directors. So in a sense, if you don't like their management, you can vote them out.
- You want better service. Because of this member-run and voting system, credit union members tend to be more satisfied with the customer service than customers of big banks.
- You want higher interest rates and lower fees. A credit union is a nonprofit, which means the profits go back to the members, which results in higher interest rates and lower fees. The best rates for savings accounts can often be found in credit unions, according to this list by GoBankingRates. Fees also tend to be lower in credit unions, and free checking accounts still exist. In a Bankrate survey, 72 percent of credit unions offered free checking account, while only 39 percent of banks did.