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The CU Difference

While banks and credit unions offer many of the same products and services, there’s a big difference in the way the two are structured. As a credit union, Otoe-Missouria Federal Credit Union is owned by the people who use our products and services–YOU, our member.

As a not-for-profit cooperative financial institution, OMFCU is owned and operated by its members and serves the financial needs of the Otoe-Missouria Tribe of Indians, its employees, and its businesses. We exist to serve our members, not to make a profit.

Here are some other differences between credit unions and banks:

Credit Unions Banks
Member-owned Owned by a small group of shareholders
Not-for-profit cooperative For-profit corporation
Earnings returned to members through better rates and fees Profits paid to shareholders
Self-governed by an unpaid, volunteer board of directors Led by shareholders who collect the bank's profits
Board elected democratically by members
one member = one vote
Only shareholders vote
more shares = more votes