Credit unions are not-for-profit financial cooperatives that conduct business for the mutual benefit and general welfare of their member-owners. Banks are for-profit financial corporations who conduct business to maximize the price of its stock and profit for stockholders. Most credit unions are locally run. A credit union's membership consists of specific people from employers, churches, schools or communities. Most banks are rarely locally run. Community banks are frequently sold to larger banks whose home office is seldom in the local community.