A National Comparison

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Consumers have many choices in the marketplace for financial services.The greatest difference between choosing a bank or a credit union is the not-for-profit local cooperative business structure that defines credit unions. We hope all consumers will choose credit unions over banks—for their own financial advantage. 

Take a look at how Westerra compares to banks in these critical areas:*

  Ownership Headquarters ATM Network Branch Network
Westerra Credit Union

Members

Denver, Colorado

30,000

5,600

Wells Fargo

Stockholders

San Francisco, California

13,000

5,900

Chase

Stockholders

New York, New York

16,000

5,100

FirstBank

Stockholders

Lakewood, Colorado

200

120

Bank of America

Stockholders

Charlotte, North Carolina

16,000

4,700

Navy Federal Credit Union

Members

Vienna, Virginia

30,000

5,600

Security Service Federal Credit Union

Members

San Antonio, Texas

30,000

5,600

Ent Federal Credit Union

Members

Colorado Springs, Colorado

30,000

5,600

*Based on website data available as of 3/31/18.
 

Comparing Banks and Credit Unions
  • Many people are surprised to learn that their bank headquarters is outside Colorado or even outside the United States.
  • People often think banks are more convenient with more ATMs and branches, when in fact, credit unions have the nation’s second largest branch network and the second largest ATM networks.
  • Credit unions use many of the same electronic banking service vendors that banks use, and in many cases have greater technology capabilities.
  • Many people who come to credit unions say they were driven away by a bank and their high fees or poor service. 
  • The volume and magnitude of lawsuits against large banks in recent years has generated a perception of greed among banks.
  • Many people do not know what a credit union is, or think they do not qualify to join a credit union. 
Credit Unions Believe More Can be Accomplished by Working Together. 
  • Many credit unions share their branches - through CO-OP Shared Branches, credit unions throughout Colorado, and across the US, make their branches available to members of other participating credit unions. 
  • The credit union CO-OP ATM Network is the second largest ATM network in the United States - with more than 1,000 free ATMs in Colorado and 30,000 nationwide. 
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