What is a credit union? How does it compare to a bank?

Understanding Credit Unions

Amanda Brugman from Affinity Plus Credit Union explains

You’re probably familiar with a credit union. Maybe you know exactly what that is- or perhaps you haven’t really thought about it before… Regardless, Amanda Bruggman of Affinity Plus Credit Union helps break it down.

A credit union is non-profit cooperative that is member owned, compared to a bank which is operated for profit.

Amanda says, “Since we’re not driven for profit. You can know that the advice you’re getting in a credit union is really going to be really focused on the member in front of us.”

Credit unions are insured like banks, just in a different way. Affinity Plus is insured up to $250,000 through the NCUA.

Affinity Plus operates 31 branches in Minnesota. Its most recent location is Virginia, Minnesota.