the differences between credit unions and banks

A detailed Summary of the differences between credit unions and banks


On November 19, 1863, President Abraham Lincoln gave one of the most well known speeches in our country's history, The Gettysburg Address. At the end of his speech President Lincoln said "....this nation under God shall have new birth of freedom, and that government of the people, by the people, for the people shall not perish from the earth." These are the ideals that our country was formed on, and it is on these same fundamental ideas that credit unions were formed. Today they are still run by the same principles. It is also through this notion that credit unions get their motto, Not for profit, not for charity, but for service.

Our society is run by profit-making industries that serve the people, but look out for their own interests first. Banks are one of


these money-making industries. The main goal of a bank is to serve its investors by making loans, investing money, or through many other options. Banks also have employees that they have to pay and stockholders( some of whom invest millions of dollars) who expect a return on their investments. These two factors divert some of the money made by the bank to pay these two groups. Because of this the rates of interest are lower and loan rates are higher for a bank's customers.

I have been a member of the Holy Rosary Federal Credit Union since I was born, and a member of your PSECU for the last few years. Through these interactions, I have seen first hand the benefits of investing my money in a credit union instead of a bank. I know that more of my money is in my acc

Some common words found in the essay are:
President Lincoln, Credit Union, credit unions, credit union, Abraham Lincoln, , Gettysburg Address, loan rates, people people, millions dollars, investing money,

Approximate Word count = 521
Approximate Pages = 2 (250 words per page double spaced)

Category: Politics

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