How substantial is the difference between interest rates for loans and savings accounts at credit unions compared with interest rates for loans and savings accounts at banks?

Question

How substantial is the difference between interest rates for loans and savings accounts at credit unions compared with interest rates for loans and savings accounts at banks?

Accepted Answer

In a study by the National Credit Union Administration, using interest rate data from Datatrac, loans are from 0.66% to nearly 2% better at credit unions than at banks. And interest rates on savings accounts are between 0.09% and 0.72% higher at credit unions than at banks.

Investing in Cash

Banks and Credit Unions

How substantial is the difference between interest rates for loans and savings accounts at credit unions compared with interest rates for loans and savings accounts at banks?