When choosing between using a bank or a credit union, which of the following is an advantage that credit unions generally have in comparison to banks?(1 point)

Question

Responses

Advanced online banking technology
Advanced online banking technology

Greater variety in services offered
Greater variety in services offered

Owned by members, who may vote and elect board of directors
Owned by members, who may vote and elect board of directors

More branches/locations

Answer 1

The advantage that credit unions generally have in comparison to banks is:

Owned by members, who may vote and elect board of directors.

Credit unions are member-owned, which means that members have a say in the governance of the organization, including the election of the board of directors. This member-centric approach often leads to more personalized service and a focus on the community.