Question

compare and contrast a bank with a credit unions

Answer 1

Difference between bank and credit unions are as follows-

A. banks are owned by the shareholders whereas credit unions will be owned by the members who are investing in those credit unions.

B. The primary motive of banks to make profit where as the primary motive of credit union is to serve its members and they will be providing loans to them at a lower rate

C. bank will generally be charging a very high rate of interest on the loan whereas credit union will be charging a lower rate of interest on a loan

D. Banks are generally having large number of branches in domestic territory as well as in foreign countries whereas credit unions are not that widely established and they do not have much of branches

E. commercial banks will generally be serving a large amount of customers whereas credit unions will be serving only its members

F. commercial banks are generally listed on the stock exchanges where credit unions are not listed on the stock exchanges.