Though it may seem as if credit unions and banks are basically the same, they’re actually quite different. Banks are focused on earning profits for their shareholders, and they do so by investing their customers’ deposits and charging high fees. Credit unions, on the other hand, are owned by their members. When you deposit money into your credit union account, you’re actually buying shares of that institution. The credit union pays you back by giving you higher interest rates on savings accounts and CDs, and lower interest rates on credit cards, mortgages, and other loans. Members of credit unions have far fewer fees, and the fees they do have are negligible. Many members of credit unions also appreciate the personalized service they receive. If you know anyone else who could benefit from great interest rates and better customer service, please feel free to pass along this infographic.