Yes, there is. Consumers Credit Union is operated and owned by the members, and as such, it is a not-for-profit financial institution. Banks, on the other hand, exist for the sole purpose of generating profits for their private owners and stockholders.u003cbru003eAll profits from credit unions go to their member-owners in the form of financial services such as low or no-cost services, lower loan rates, and higher deposit rates. u003cstrongu003eCredit unions use NCUAu003c/strongu003e federal insurance, while u003cstrongu003ebanks are federally insured by FDICu003c/strongu003e.