You may be searching for a credit union near you for many reasons. Maybe you’ve moved, are looking for different savings rates and account benefits, are exploring loan options, or want to change where you keep your money. Before making your final decision, always do your research.

If you’re searching for financial institutions, you may wonder what the difference is between a credit union and a bank. Credit unions are non-profit organizations and member-based institutions, meaning you may or may not need to be part of a specific group to become a member, like a company, school, or other organization. Because they are member-based, to open an account at a credit union, you may have to pay a membership fee or be required to open a savings account.

On the other hand, banks are for-profit and not member-based. As a result, you may notice that credit unions have fewer branch locations than banks. Branch locations and hours of operation are essential factors to consider when deciding where to save your money.

Another key difference is that different agencies insure banks and credit unions. The Federal Deposit Insurance Corp. (FDIC) insures deposits at member banks, and the National Credit Union Administration (NCUA) insures deposits at member credit unions. When searching for a credit union to save your money with, always look for one insured by the NCUA. That way, you know your money is insured if the credit union fails.

When looking at a new financial institution, check out its product offerings. Each one offers different types of accounts to its customers, like checking accounts, savings accounts, and even retirement savings accounts or certificates of deposit (CDs). Check their minimum balance requirements, interest rates, fees, and other unique benefits for these accounts.

Some credit unions offer different types of loans like mortgages, student loans, or auto loans. Talk with a representative to explore these loan options. Before deciding on a loan, look at a few different credit union options and compare the details to ensure you get the best loan for your unique situation.

Credit unions may offer customers credit card offerings, too. If you regularly use ATMs, ask about ATM fees when you use an ATM outside of the credit union’s ATM network.

Credit unions have a reputation for being active in their local communities. If this is important to you, check their website to see which local causes they support.

When opening an account at a credit union, be sure you have the proper documentation and have enough money to fund the account based on the minimum balance requirements.

Always look for the BBB Seal when searching for credit unions. BBB Accredited Businesses adhere to the BBB’s Standards for Trust and have committed to operating with your best interests in mind.

For more tips on finding a credit union, read BBB’s tip on choosing a new bank or credit union. You can also visit BBB’s Financial Wellness HQ.