If you've got a question, we've got an answer. Send your question, along with your name and where you live to usavers@unitusccu.com. You might see your question answered right here on the uSavers webpage and published in the next 'Making Cents' newsletter! You'll even receive a $25 winning prize, deposited right into your uSavers account!

Question:
What is the difference between a credit union and a bank?

Submitted by: Bethany
Vancouver, WA

Dear uSaver,

Credit unions and banks are both financial institutions. But a credit union is “not for profit,” and is owned by the members. This means you are part owner of the credit union, and your money is used to help the credit union grow, instead of making a profit for a company or person.

Thanks for the question, Bethany.