Their ATM withdrawal fees tend to be lower than those charged by banks. And a growing number belong to a network that allows members to use 25,000+ ATMs, including those in 7-Eleven stores, without paying a fee.

Why so many perks? Because credit unions are member-owned cooperatives or not-for-profit associations of people who pool their savings and then lend money to one another. They are not in the business of generating profits for shareholders as are traditional banks.

                        The Insurance Issue

Most credit unions are now federally insured -- for up to $100,000 for an individual account and up to $250,000 for a retirement account. Joint accounts are treated separately when it comes to insurance. That means you and your spouse can each put $100,000 in an individual account and also open a joint account. The total insured amount would be $400,000.

The accounts are backed by the National Credit Union Administration, a federal branch. If a credit union fails, the NCUA locates another credit union that will take over the accounts.

Tip: Credit unions covered by federal insurance are required to display the NCUA logo.

A handful of credit unions are covered by private insurance. In these cases, your deposit is not protected by the full faith and credit of the federal government.

                                Finding A Credit Union

You need to be a member of a credit union in order to enjoy its perks.

By law, credit unions must have a so-called common bond. That could consist of working for the same employer, belonging to the same church, club, YMCA/YWCA or government agency, or even living in the same neighborhood.

Check with your employer, any professional or religious groups you belong to. And, find out if your city and county offers a credit union.

If you can't locate one locally, call the Credit Union National Association at: 800-358-5710. You'll be given the name and phone number of a contact at the credit union league in your state.

Or, check out the credit union locater at: http://www.joinacu.org/

- Nancy Dunnan