Answer:
<em>Both Banks and Credit Unions are similar in that they provide much needed financial support to customers. However, there are key difference in how they operate</em>
Explanation:
Banks are for-profit organisations that are set up under legal jurisdictions to provide numerous services including loans, mortgages, credit card services and much more.
Credit Unions, however are non-profit organisations. They are set up and owned by their members and each member even gets a share of the profits.
Hence, their aim is to help members and not just make a profit from every deal.
On the other hand, banks are answerable to shareholders and each deal is based upon the risk and profit it could bring in. Also, banks provide far more products and services to their customers.
