How are credit unions and savings and loans different from commercial banks and finance companies?

Credit unions are not-for-profit financial cooperatives, whose earnings are paid back to members in the form of higher savings rates and lower loan rates. Banks are for-profit corporations, with declared earnings paid to stockholders only.

Savings institutions (also called savings & loans or savings banks) specialize in real estate financing

Credit Unions are non-profit financial co-op owned by members and govt'n.

Banks are community regional national for-profit buisness corp. owned by private investors. s