What is the features of a credit union?

Credit unions are member-owned financial cooperatives that offer a range of features, including lower interest rates on loans and higher returns on savings compared to traditional banks. They typically provide personalized customer service and a community-oriented focus, as they are established to serve specific groups or communities. Additionally, credit unions often have lower fees and may offer unique services like financial education programs. Membership is usually required, which can be based on factors like employment, location, or affiliation with certain organizations.