Can you do it | Business & Finance homework help
A bank and a credit union are both financial institutions that offer customers services such as savings accounts, checking accounts and loans. The main difference between the two is that a bank is a for-profit business run by shareholders, while a credit union is owned by its members. Additionally, banks tend to have more expansive services than credit unions, including everything from mortgages and foreign exchange trading to wealth management. Credit unions usually focus on providing basic banking services to their members. As non-profits, they can often offer higher interest rates on savings accounts and lower fees than traditional banks.
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