JeanLovegood
JeanLovegood JeanLovegood
  • 16-05-2018
  • Social Studies
contestada

Explain how credit unions differ from banks.

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madisonkenyon22
madisonkenyon22 madisonkenyon22
  • 16-05-2018
Hello

Credit unions are not-for-profit financial cooperatives, whose earnings are paid back to members in the form of higher savings rates and lower loan rates. Banksare for-profit corporations, with declared earnings paid to stockholders only.

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sarahtvo sarahtvo
  • 24-09-2019

Answer:

credit unions are nonprofit financial institutions

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