Banks, Trust Companies, and Credit Unions
A bank is a financial institution that accepts deposits and makes loans. Bank customers store their money in accounts and use the bank’s services to manage their money. Banks also offer investment and savings services which help customers achieve long-term financial goals. It is safer to keep money in a bank than to carry it or leave it in your home. A bank account is easy to open and usually includes a variety of options to make saving money, shopping, and investing easier.
A trust company provides many of the same services as a bank, such as asset management and investment services. They are an equally safe place to save your money, so choose the best and most convenient option for you. Trust companies usually have longer hours of operation to serve you than banks.
Credit Unions are similar to banks and trust companies, but are owned by their members. When you join a credit union, you become one of many owners or “members” of the union. Credit unions provide a safe, convenient place for members to store money and receive loans at reasonable rates.
There are separate listings in the telephone directory Yellow Pages for banks, trust companies and credit unions. To learn more about banks, trust companies, and credit unions in your area, visit Community Profiles.