A credit union is a not-for-profit organization. The profits are returned to the members in the form of dividends.

I am not sure if checks can be cashed at a credit union.

@jca Yes, they can.

I am a member of a credit union. For all practical purposes, they offer the same services as a bank. For example, home and car loans, home equity loans, savings and checking accounts, credit cards, etc. These days, many credit unions have the advantage of lower fees. However, @marinelife, I’ve never received any dividends from my credit union.

This is a best “Googled” question, unless you want to know our personal experience between the two.
See what ehow says about it, or Affinity Plus, a credit union.

At a CU you are a member and in some you actually own shares. At a bank you are a customer.