Credit union vs. bank: How to decide where to put your money

If you’re looking to open a CD, take out a new line of credit or stash money in a high-yield savings account, you may be debating the merits of joining a bank or a credit union. Both types of institutions serve many of the same purposes: They offer a range of financial products and are typically federally insured (up to $250,000 per account) so your money stays safe. They vary, however, when it comes to size, interest rates, availability of branches and ATMs, and overall institutional mission.