Credit Unions vs. Banks in Detroit

Life in Detroit isn’t always cheap, and it’s important to be able to save wherever you can — and that includes your banking. Banks may hold your money and provide financial services to you, but at the end of the day, their goal is to make money for whoever owns them. If you already have a Detroit bank or are looking for one, we think you may be better off with a credit union. A credit union is owned by its members, creating a community that helps to ensure every member’s financial needs are met.

Advantages of a Credit Union Over a Bank in Detroit

When we talk about the advantages of credit unions over banks, many of our Detroit residents are surprised at how much can happen when you prioritize your members over your bottom line, including:

  • Lower fees
  • Higher savings rates
  • Personalized services that include financial advice
  • Loans and assistance backed by other members

What’s the downside? Credit unions are not open to everyone, but Public Service Credit Union has one of the widest criteria for joining: you just need to live, work, worship, or attend school in Michigan. We take any profits made and reinvest them back in our organization — and you!

Think You’ll Miss ATMs? We Have Over 30,000

One of the most common reasons we hear folks stick with their bank is the ATMs. After all, how can a credit union have enough ATMs to serve its members especially when they leave the area?

Whether you’re in Detroit, spending the weekend in Romulus, or going across the country, you have quick and easy access to cash when you bank with Public Service Credit Union.


If you’ve been burned by an overdraft fee or a minimum balance fee or just want a friendly, familiar face on the other side of the desk when applying for a car loan, we want to help. We didn’t spend much time talking about the downsides of banks because Detroit residents already know them: fees, poor hours, fees, strict rules that benefit the bank more than the account holder, and fees.

With just a $25 deposit, you can open your account with Public Service Credit Union and be one of the many Detroit residents who have said goodbye to banks and said hello to credit unions. Want to learn more about choosing a credit union or have questions about PSCU? Contact us today.

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