Question

What is a major advantage of using credit unions?

Answer 1

-You'll get better rates: A credit union will get you lower rates on loans and typically enable you to earn traditional banks. Because credit unions are non-profits, they pass on surplus funds to customers in the form of higher interest rates on deposit accounts.

Answer 2

Assuming that the options are:

A. They are part of the union process

B. They offer more services than banks

C. They offer lower interest rates for savers

D. They offer lower interest eaters for borrowers

The correct answer would be D, because they are member organizations. Credit unions do not have to pay shareholders, unlike typically banks, and the savings are passed down to its members (example: dividends in your saving account)