The basic difference between a List/Committee vs an Email List is where it displays in the Info Hub. 

When adding or creating a new list, you have two options to select: Add List/Committee and Add Email List.

The only factor that determines where a list/committee displays in the Info Hub is the list/committee type assigned to the list/committee category. By default, there are four list/committee categories set up in GrowthZone, each with a default list/committee type assigned: 

1. Staff: By default, this will set the list up as a list/committee.
2. Board Members: By default, this will set the list up as a list/committee.
3. Email Lists: By default, this will set the list up as an email list. If the list/committee type of Email List is selected in this category. 
4. Member Engagement: By default, this will set the list up as a list/committee.

You can set up as many List/Committee categories as you like in your system; you may need to experiment with your custom list/committee categories to find the correct one for your system (or select one of the known default list/committee categories above instead).

Each list/committee category has a type selected. The type is what determines where the list/committee will display in the Info Hub. Set the type by going under Setup to List/Committee Categories in the Categories section. Click into a Category. You can view or edit the List/Committee Type there. 

Lists created using any list/committee type EXCEPT "Email List" will display in the "My Info" section of the Info Hub, under a "Lists/Committees" panel:

Lists created using the "Email List" list/committee type will display under the "My Subscriptions" area IF the "Users can see List in My Info or My Subscriptions" option is enabled. If "Users Can Join" is also enabled, members can subscribe or unsubscribe from the list via the Info Hub by enabling and disabling the check box.

Other than that, a List/Committee list and an Email List list behave the same in all other ways; they can be used to send emails, as a workflow source, etc. If you enable the "Allow External Use" option, you can even publish a list of either type to your website.