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Frequently Asked Questions |
What is the difference between a Bank and a Credit Union?
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Credit Union |
Bank |
Credit Unions are non-profit. Without the profit motive, Credit Unions make decisions based on what's best for you, our member. |
Banks are concerned with their shareholders first. Banks make decisions based on what's best for the shareholders. |
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Once you join a Credit Union, you become an owner. Every member has the same voting rights to decide what's best for the Credit Union. |
You must buy shares of a bank to own the business. The Board of Directors makes all the decisions for the bank. |
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The Board of Directors is made up by volunteers. |
The Board of Directors are on a paid salary. |
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Each member has voting rights. The Board of Directors is elected by the members. |
Only stockholders may vote for the Board of Directors. |
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There is certain criteria to be able to join a credit union. |
Anyone can join a bank. |
My statement says my account was frozen. What does this mean?
When we post ACH credits/debits, a report prints out for all accounts with mismatched names. If you have a debit or credit trying to clear your account, and the name on that credit/debit is not a person on your account, your account is frozen so it will not hit your account. This is for your safety.
If you have a special debit or credit coming in to your account, and it's under a different name, please call ahead in advance to let us know, so the item will not be returned. |
How do I set up my payment for automatic draft with my bank?
| To set up your loan payment to pay from your account at a different financial institution, you will need to call Citizens at 432-686-1200 and set up arrangements for that to be made. |
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