History of Kansas Credit Unions
Like the great state we know, Kansas led the way for the rest of America.
Banks and credit unions offer similar services. Both offer saving and checking accounts, loans, mortgages, and bill payment.
However, some major differences exist between the two institutions. There is an easy way to think about these differences.
A Credit Union is like a local co-op, while a bank is like a business.
A Bank, however, caters to its investors and is a for-profit corporation.
Some banks can act in similar ways to credit unions. Community banks can be like a credit union because they are usually locally owned.
Some people choose a credit union or community bank because they believe in investing their money locally and value the personal customer service often associated with these institutions. Others prefer some of the convenient features (for example: multiple and nationwide locations) larger banks can offer.