University Credit Union vs. Bank - Which is Better for Students?
Indiana University Edition
NerdWallet pits your university credit union against the big bank on campus and tells you who comes out on top.
Overall Winner: Indiana University Credit Union easily beats Chase Bank. Although the differences in fees are negligible, the credit union's strong presence on campus and perks make them the better choice for IU students.
Round 1: Fees
| Indiana University Credit Union: Student Account | Chase: College Checking | |
|---|---|---|
| Monthly Fee | $0 | $0 |
| Fee for Out-of-Network ATM Withdrawal | $2 | $2 |
| Overdraft Fee | $30 | $34 |
| Category Winner |  |  |
Round 1 Winner: IU Credit Union barely wins this round with a lower overdraft fee.
Round 2: Accessibility and Convenience
| Indiana University Credit Union: Student Account | Chase: College Checking | |
|---|---|---|
| Branch Location | On-campus | On-campus |
| Number of ATMs Within 1 Mile of Campus | 17 | 5 |
| Category Winner | | |
Round 2 Winner: IU Credit Union has a branch right in the Memorial Union, making it super convenient for students. They also participate in shared branching, allowing members to bank at other credit unions, and members can withdraw from any Allpoint ATM for no fee. Chase has an ATM at the Union as well and a branch about a mile away. The credit union's accessibility makes them win this round easily
Round 3: Bonus Perks
| Indiana University Credit Union: Student Account | Chase: College Checking | |
|---|---|---|
| Bonuses |
| None |
| Category Winner | | |
Round 3 Winner: IU Credit Union delivers the knockout punch of student-friendly financial resources and free checks.
