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timurjin [86]
3 years ago
5

How are credit unions and savings and loans different from commercial banks and finance companies?

English
1 answer:
ruslelena [56]3 years ago
7 0
Credit unions are not-for-profit financial cooperatives, whose earnings are paid back to members in the form of higher savings rates and lower loan rates. Banks are for-profit corporations, with declared earnings paid to stockholders only.
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