Skip to main content

Why Join a Credit Union

It seems like there’s a bank around every corner, and they are constantly advertising for your business. A credit union is a lot like a bank, but better (we might be a little biased). Here’s why.
Banks versus Credit Unions infographic. Underneath Bank: For-profit institution, anyone can be a customer, higher fees & interest rates, owned by shareholders, product pushing and cookie-cutter service, deposits insured by FDIC. Underneath Credit Union: Non for profit institution, must qualify for membership, lower fees & better interest rates, owned by its members, personalized customer service, deposits insured by NCUA.
Stars icon


Alltru Credit Union is non-profit member-owned cooperative that was built with a shared goal in mind: to help people achieve their financial dreams. Since 1968, our mission has been to save you money, make you money, and save you time.

When you join Alltru Credit Union, you become a member and part owner. Along with your fellow members, you have the chance to elect our volunteer board of directors. You get a direct line to the top – so rest assured, they’re looking out for your best interests.

On the other hand, banks are controlled by Stockholders who make decisions based on maximizing profit. Their mission is to sell you products, whereas credit unions are service driven.

Icon of three people figures


We believe stronger communities benefit everyone. We are proud to both take the lead and stand beside our members as we make our hometowns even better places to live, work and play. We are an official Community Development Financial Institution (CDFI), meaning it is part of our primary mission to:

  • Promote community development
  • Serve low-income residents
  • Maintain accountability to our communities

We are proud to partner with local non profit organizations such as Urban League of Metropolitan St. Louis and Justine PETERSEN to provide wholistic financial capabilities programing throughout St. Louis and ensure that financial stability is possible for everywhere.

Along with giving back to the community, we spread financial knowledge to all of our members by hosting free seminars so that they can manage their money responsibly and achieve their financial goals – whatever they may be.

Alltru was built upon the philosophy of “people helping people”, in which our organization exemplifies to this day. Together, we make our community stronger.

Icon of arrows pointing upwards

Higher-interest savings. Lower-interest loans.

Alltru Credit Union is a not for profit financial institution. So, unlike a bank, we’re not here to make money off you. We’re here to save you money. With us, you’ll earn more on your savings. 

Credit Union profits are reinvested to our members in the form of reduced fess, higher-interest savings, and better interest rates. On the other hand, banks focus on making a profit and stack fees upon more fees for basic services.

Photo of St. Louis skyline with City Hall and the Arch

By now, hopefully you’ve learned more about the key differences between banks and credit unions. Have we changed your mind yet?

We’d love to have you on board the better way to bank at Alltru Credit Union.

Learn more about membership here.