Final answer:
Credit unions offer similar services to commercial banks and savings and loans, but with some key differences, such as being not-for-profit and often having lower fees and interest rates.
Step-by-step explanation:
Credit unions are financial institutions that offer a wide range of services similar to commercial banks and savings and loans such as checking and savings accounts, loans, credit cards, and mortgages. However, there are a few differences between credit unions and these other financial institutions.
One key difference is that credit unions are not-for-profit organizations owned by their members, while commercial banks and savings and loans are typically for-profit entities owned by shareholders or investors.
Additionally, credit unions often offer lower fees and interest rates compared to commercial banks and savings and loans, as they are focused on serving their members rather than generating profits.
Learn more about Credit unions and their services