At credit unions, depositors are called members. Each member is an owner of the credit union. Banks’ depositors are called customers. Customers have no ownership interest in the institution. Since credit union members are owners, each member, regardless of how much money they have on deposit, has one vote in electing board members. Members can also run for election to the board. Banks are owned by investors who may or may not be depositors. Banks are owned and controlled by stockholders, whose number of votes depend upon number of shares owned. Customers don’t have voting rights, cannot be elected to the board, and have no say in how their bank is operated. Directors are selected by current directors or by large block stock acquisition.