What is the main difference between a retail bank and a credit union?.

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asked Oct 5, 2024 82.9k views

1 Answer

Maess · Answer 1 · 2024-10-09T11:19:51+0000

What makes banks and credit unions different from each other is their profit status. Banks are for-profit, meaning they are either privately owned or publicly traded, while credit unions are nonprofit institutions.

What is the main difference between a retail bank and a credit union?.

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