Education is Essential

Why You Should Choose Baton Rouge Federal Credit Union Over A Bank

Money decisions always feel like a giant, scary step. Especially if you’re in a financial rut, a college graduate, or living paycheck to paycheck. If you’re a creature of habit or if you’ve never handled your own money before, banking could really feel like a hassle. However, not many people realize that banking isn’t the only way to handle your money in a safe way. Essential Federal Credit Union understands the frustrations a bank can bring up. But what is a federal credit union? How are they different than banks? How are they similar to banks? Banks and federal credit unions can seem pretty similar. However, there are some key differences. Let us tell you the main reasons why you should choose a Baton Rouge Federal credit union over a bank.

Profit v. Non-Profit

There’s a few key differences between banks and federal credit unions. One of the biggest differences is where the money goes. Banks are unabashedly for-profit. Large, ridiculous fees seem to be there for no reason other than making their purses heavier. On the other hand, federal credit unions are non-profit organizations. Additionally, banks often have to pay taxes on the profit they make. However, federal credit unions do not.  

At Essential FCU, we want to make sure that our members have a friendly and affordable experience with us. Luckily, members of a federal credit union often experience better customer service. Many attribute this to their non-profit status. We strive to give our members receive the best customer service possible.

baton rouge federal credit union

Unlike banks who just have customers, credit unions have a member system. Because this system is in place, many members feel a sense of community that banks lack. This is brought on by the necessary requirements each member must meet.

These members also vote on a volunteer board of directors. This board of directors completely consists of credit union members. This board manages the credit union and makes the union for members by members. That way, Essential will never become profit-oriented like banks.

Your Choice Baton Rouge Federal Credit Union

You should never feel like you’re not welcome to your own money. Federal credit unions run for members rather than for profit. This is to ensure you have a sense of community and trust in your banking experience.

For over forty years, we have been the best Baton Rouge federal Credit Union around. If you’re ever in need of banking, credit cards, insurance, or investments, we have you covered. You can contact Essential Federal Credit Union in several ways. Feel free to call us at 225.353.8238 or by sending an email to If you’d rather, we also have an online form you could fill out instead. No matter what your needs are, we do our best to treat you like one of the family at Essential Federal Credit Union.