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How do credit unions offer better rates on savings accounts than banks?
Credit unions are often able to offer better rates on savings accounts over banks because they are not for-profit financial institutions, but are member-owned. As a member of a credit union, you are able to enjoy rates on savings accounts that are usually better than what banks offer.
Credit unions offer many of the same conveniences as larger banks like mobile banking, online banking, ATM networks, online bill pay and much more.
Credit unions such as Education Credit Union in Amarillo, TX also offer a variety of savings accounts, including General, Youth, Health, CDs and IRAs.