Credit Union vs Bank

Learn the credit union difference at Kemba Roanoke FCU

Credit Union versus Bank at Kemba Roanoke Federal Credit Union

  Terms
  Kemba Roanoke Federal Credit Union
    Banks

  
  Definition
    Not-for-profit financial institution offering a full range of financial products and services.
    For-profit corporations which offer a full range of financial products and services.
  

   Profits
    Earnings are returned to members through services like free ATMs, better rates, and lower fees.
    Earnings go to stockholders in the form of dividends.
  

   Asset Protection
    Insured by NCUA up to $250,000.
    Insured by FDIC up to $250,000.
  

   Decisions
    Kemba Roanoke Federal Credit Union is democratically governed, and elections are based on a one-member, one-vote philosophy.
    Banks are governed by paid shareholders. Voting rights depend on the number of shares owned.
  

   Access
    Convenient access to more than 5,600 branch locations from coast to coast
    Banks require customers to use their branches for services or pay fees. Some services are unavailable outside the bank.
  

   Community
    Kemba Roanoke Federal Credit Union is a local, community-based financial institution. Members support their local communities when they bank at a credit union.
    Banks are big! The average size of a bank is double that of a credit union.
  

   Membership
    Kemba Roanoke Federal Credit Union has members, not shareholders.
    Banks have customers and shareholders. They must make money from their customers to please shareholders.
  

Terms	Kemba Roanoke Federal Credit Union	Banks
Definition	Not-for-profit financial institution offering a full range of financial products and services.	For-profit corporations which offer a full range of financial products and services.
Profits	Earnings are returned to members through services like free ATMs, better rates, and lower fees.	Earnings go to stockholders in the form of dividends.
Asset Protection	Insured by NCUA up to $250,000.	Insured by FDIC up to $250,000.
Decisions	Kemba Roanoke Federal Credit Union is democratically governed, and elections are based on a one-member, one-vote philosophy.	Banks are governed by paid shareholders. Voting rights depend on the number of shares owned.
Access	Convenient access to more than 5,600 branch locations from coast to coast	Banks require customers to use their branches for services or pay fees. Some services are unavailable outside the bank.
Community	Kemba Roanoke Federal Credit Union is a local, community-based financial institution. Members support their local communities when they bank at a credit union.	Banks are big! The average size of a bank is double that of a credit union.
Membership	Kemba Roanoke Federal Credit Union has members, not shareholders.	Banks have customers and shareholders. They must make money from their customers to please shareholders.

Kemba Roanoke FCU Banking & Loan Products

We offer our members a wide variety of financial products and services. You can save money with a low-interest rate on your loan. Then, invest and grow your money with one of our savings accounts.

Combine interest and savings rates with the convenience of our shared branch locations, and you have the best banking option for so many Virginians.

Kemba Roanoke FCU financial services:

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Before We Continue: Are You A Member?

We have a state charter at Kemba Roanoke Federal Credit Union that began in 1935. We’ve since grown to more than 5,500 members, and we’re looking to have you join us!

You’re eligible to join our member-owned financial cooperative if you meet the following criteria:

If you are related to an existing member, or you live in the same household of an existing member, or if you are related to an employee, retired employee, or volunteer from one of the Select Employee Groups listed below
If you live in the state of Virginia, you can join KEMBA through the Virginia Consumer Council. Membership to the Virginia Consumer Council is FREE, and we will process your membership for you at no charge. Click Here for more information on the Virginia Consumer Council today!
If you are currently employed, retired, a member, or a volunteer at one of the following Select Employee Groups (once you're a member of KEMBA, you're always a member even if you no longer work for one of the qualifying employers)

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