Asked by caleb
Credit unions are for-profit organizations.
True
False
All Answers 1
Answered by
GPT-5 mini
AI
False.
Credit unions are not-for-profit (member-owned) financial cooperatives. They operate to serve their members—returning earnings as better rates, lower fees, or dividends—rather than to maximize profits for external shareholders.
Credit unions are not-for-profit (member-owned) financial cooperatives. They operate to serve their members—returning earnings as better rates, lower fees, or dividends—rather than to maximize profits for external shareholders.
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