Showing posts with label credit unions. Show all posts
Showing posts with label credit unions. Show all posts

Sunday, July 6, 2014

Credit Unions vs. Banks

A bank and a credit union are directly across the street from the high school in my district. In my civics course students often asked me what the difference is between the two. The following video offers a concise explanation of the differences.

Applications for Education
My local credit union offers teenagers no-fee savings accounts with a minimum $5 deposit. Kids can even get an ATM card for that account with a parent's approval. I tried to find the same offer from banks in the area and failed. Ask students why the credit union offers a better account option for teenagers.

Sunday, March 7, 2010

The Differences Between Banks and Credit Unions

In the civics course that I teach I try to work in lessons about consumer borrowing and consumer savings. One topic that always comes up in these lessons is the differences between banks and credit unions. Young Free Alberta has a series of three videos, done in the Common Craft style, explaining the differences between credit unions and banks. The videos are clearly designed to encourage students to join credit unions. Despite that bias the videos still do a good job of explaining the fundamental differences between banks and credit unions.

Part 1:

Part 2:

Part 3:

Here are some related items that may be of interest to you:
Kid's Economic Glossary
Saving Money in Plain English
The History of Credit Cards in the United States