Why Choose a Credit Union Over a Bank?

Credit Unions vs. Banks

Choosing where to keep your money is a big decision, and understanding the difference between credit unions and banks can make all the difference in your financial journey. While both types of institutions offer similar products like checking accounts, credit cards, loans, and savings options, how they operate and who they serve are what truly set them apart.

Member-Owned, Not-for-Profit

Ft. Randall Federal Credit Union is a not-for-profit, member-owned financial institution. That means every member is also a part-owner of the credit union, with a voice in how we operate. Unlike banks, which answer to shareholders and prioritize profit, credit unions focus on returning value to members through lower fees, better interest rates, and more personalized service.

When you join Ft. Randall FCU, you’re not just opening an account but becoming part of a financial cooperative that puts your needs first.

Personalized Service You Can Count On

Because we serve a defined membership area—residents and workers in Brule, Bon Homme, Charles Mix, Douglas, Gregory, and Hutchinson counties—we understand the unique needs of our community. Our team isn’t located in a corporate office, states away. We live here, we work here, and we care about helping you succeed financially.

Whether you’re applying for your first loan, opening a youth savings account, or seeking guidance on improving your credit score, you’ll find friendly support and knowledgeable advice every step of the way.

Competitive Rates and Lower Fees

One of the biggest advantages of banking with a credit union is affordability. Because we don’t aim to generate profits for shareholders, we’re able to offer: