Question

Which of the following is usually a benefit of being a member at a credit

union?
Higher interest rates and lower fees
O Lower interest rates and higher fees
O Higher interest rates and higher fees
O Lower interest rates and lower fees
She should
*
* 1 point
1 p

Answer 1

Being a member at a credit union usually provides the benefit of lower interest rates and lower fees.

Step-by-step explanation:

A benefit of being a member at a credit union is usually lower interest rates and lower fees. Credit unions are member-owned, not-for-profit financial institutions that prioritize serving their members rather than maximizing profits. This allows them to offer more favorable rates and fees compared to traditional banks. An example of this is credit unions typically offering lower interest rates on loans and credit cards, as well as lower fees for services such as ATM withdrawals or overdrafts.

Learn more about Benefits of being a member at a credit union