Understanding Why an Oregon Credit Union Is Different From a Bank
Banks Oregon and credit unions are more or less the same thing. They have been around for centuries and have developed special services in order to keep their clients happy.

Banks Oregon and credit unions are more or less the same thing. They have been around for centuries and have developed special services in order to keep their clients happy. They are both financial institutions that help people save money through savings accounts, or lend them money through loans. They have also helped communities and small businesses develop. Although they offer pretty much the same services a bank is different from an Oregon credit union in some very specific ways.

Why Is an Oregon Credit Union Better Than a Bank?

There are a lot of things to think about before choosing between a bank and a credit union. Credit unions, for example are non-profit organizations that usually appeal more to people and small businesses looking for some help in time of need. One of the major differences between banks and an  Oregon credit union  is that you have to be a member of a credit union before you can do business with it. Becoming a member is relatively easy, but it does mean that you have to open an account with the union and deposit a certain amount of money.

Depending on what you need, a credit union might be better for you than a bank. Just like banks, credit unions are insured by the NCUA (National Credit Union Association), which is a US federal agency that regulates and supervises credit union activities. The same agency manages the National Credit Union Share Insurance Fund, or NCUSIF for short, which covers the money members lose in case the credit union fails for whatever reason.

Another advantage of working with credit unions instead of banks is their premium client services. Being a non-profit organization, credit unions have more “people skills”, so to say. Their employees can manage customer relations better and can also relate better to customers.

Why Are Banks Oregon Better Than Credit Unions?



Banks have a long standing tradition of being strong financial institutions, which have helped numerous people and industry sectors over the years. Although they have some setbacks, such as financial crises and governmental bailouts, banks continue to be a big part of society, creating new services custom made for their clients’ specific needs.

One of the biggest advantages  banks Oregon have over credit unions is their sheer size. Usually banks are part of multinational conglomerates, that buy local banks but keeps them operating under their name. This usually means that a local branch of your commercial bank is backed up by a mother-company in Amsterdam or Singapore, for instance, and in the case of the bank failing, the other members of the banks’ “family” will help it get back on track.

Also, all bank activity is closely monitored and regulated by federal agencies that look out for any problems that may appear. One of these agencies is he Federal Deposit Insurance Corporation (FDIC). Don’t let the name fool you. The FDIC is a government agency that in meant to promote public trust in banks and other financial institutions by insuring deposits. This means that when a bank fails, for whatever reason, the people that have money with that bank get it bank.

Also, banks are known to be more convenient for customers. Because they are for-profit institutions, as opposed to credit unions, they invest in new technology and services that make it easier for their clients to do business. Some of the newer technologies include internet banking, which is actually a pretty neat feature in todays’ fast paced world. Using internet banking is like having access to your bank account and other services 24/7. This makes transactions fast and easy, eliminating the need to look for and actually go to an office branch.

Having more services to offer means that banks Oregon can attract more diverse clients, designing specific services and products to their specific needs. Checking accounts with 0 fees, student loans, small business loans and many others are just a few of the custom made services banks can offer their clients, depending on what they want. Thusly, banks have the advantage of appealing to a much larger potential customer base than credit unions.

Depending on where you feel most comfortable, banks and credit unions are here for you. You can choose either one. Just make sure you do your research first. Before doing business with any financial institution, spend some time and do your research in order to make the right decision. 

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