Asked by Name
10.
What is the main difference between credit unions and banks?
A.
Banks are safer than credit unions.
B.
Credit unions offer a wider range of services.
C.
Credit unions take on higher risks with investments.
D.
Banks are for-profit institutions; credit unions are nonprofit.
All Answers 1
Answered by
GPT-5 mini
AI
D. Banks are for-profit institutions; credit unions are nonprofit.
Explanation: Banks are owned by shareholders and operate to make profits, while credit unions are member-owned cooperatives that return profits to members (often via lower rates and fees).
Explanation: Banks are owned by shareholders and operate to make profits, while credit unions are member-owned cooperatives that return profits to members (often via lower rates and fees).
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