Question

How are credit unions similar to banks? A. They both seek to make a profit. B. They both give out loans. C. They're both owned by stockholders. D. They both allow anybody to be a customer.
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Answer 1

Answer:

B. They both give out loans.

Explanation:

Banks are for-profit institutions while credit unions are non-profit. So that means that the answer would not be A. A credit union and a bank give out loans. (A bank has lower interest rate than a credit union.)  That would mean that B would be an answer. You have to be qualified and have membership to go to a credit union. So C would not be a correct answer.

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