answersLogoWhite

0


Best Answer

One key difference is ownership: banks are typically for-profit institutions owned by shareholders, while credit unions are not-for-profit organizations owned by their members. Additionally, credit unions often offer better interest rates and lower fees due to their member-focused structure. Finally, credit unions are usually more community-oriented and may have membership requirements based on a common bond among members such as where they live or work.

User Avatar

AnswerBot

1w ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: In what way is a bank different from a credit union?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Continue Learning about Political Science

What political development cause the Southern states to secede from the Union?

The election of Abraham Lincoln as president in 1860, who was seen as anti-slavery, led to the Southern states seceding from the Union. They feared that his presidency would threaten their way of life, particularly regarding slavery.


Which countrey is the richest one in the world?

As of 2021, the United States is often considered the richest country in the world based on measures like GDP and overall wealth. However, there are different ways to measure wealth, including GDP per capita and total wealth.


What does salute mean in science?

A salute is a substance that another substance can be dissolve into.


What was the Emancipation Proclamation that was part of the civil war?

Last person that answered this question: Dont answer questions that you ont know the answer to okay!The answer is.........Basically,a piece of paper saying that everyone has equal right ,whites,blacks,Mexicans..ect..The Emancipation Proclamation was only Propaganda to discourage European powers from assisting the Confederacy. It free no slaves. It improved nobody's rights. It explicitly did not free slaves in Union states (Lincoln did not want to risk them seceding too) and implicitly did not free slaves in Confederate states, as the Union had no power there.


How did radical republicans feel about the return of the south to the union?

Radical Republicans generally wanted a strict Reconstruction policy for the South, including the enforcement of civil rights for freed slaves and punishment for Confederate leaders. Many felt that the return of the South to the Union was premature and that more drastic measures were needed to ensure lasting change and justice.

Related questions

How does a person go about applying for a Union Plus credit card?

The best way to apply for a Union Plus credit card is by going to a bank that has Union Plus credit card and applying for one. Make sure you meet the requirements for getting the credit card. You can find more information at the bank.


Where can you get a Halifax credit card?

The best way to get a Halifax credit card is to visit the bank branch in person, or on the web. The bank offers several different types of credit cards, based on the benefits you desire.


What bank has the best mortgage rates?

Moneysupermarket.com is a great way to contrast and compare different mortgage rates. You should also check with your current bank, especially if you have a credit union, which are known for having better rates. Lending tree is another good source.


Which credit card companies have the highest rewards credit?

Capital One and Union Bank have the highest reward rates. The rates are from 1.16% and all the way up to 2.00%. Make annual savings all the way from $249 to $453 by choosing one of theese credit card companies.


How do you raise the home equity line of credit rates with the bank?

The home equity line of credit rate with a given bank will be fixed depending on the situation. The easiest way to raise this is to find different banks and compare rates.


Where can one obtain an AA Credit Union account?

There really is only one way for a person to obtain an AA Credit Union account. They can go on the AA Credit Union website or visit a local AA Credit Union and fill out the forms.


How get a loan with a bank with bad credit?

The only way one with bad credit get a loan from a bank is to use a co-signer who has a stronger credit profile.


Why might one get a car credit loan?

Getting a car loan is a good way for those who don't necessarily have the money up front to buy a new car. If you are established with a bank or credit union, they will often lend money to you for this purpose.


What type of financial institution is MCU?

MCU is a financial services credit union. That means that they operate in a similar way as a bank, except that they are owned by it's "members" (customers) rather then by shareholders.


Where can I find a savings calculator?

Savings calculators can be found on many banks and credit union websites. The best way to find a savings calculator is to first check your local bank website.


What is the best way to finance a car purchase?

There are several options for financing a car purchase. If you are buying through a dealership, they may offer financing for their customers. You can also get a loan from your bank or credit union.


Does Orchard Bank give credit cards to people with damaged credit?

Yes, Orchard bank does give credit cards to people with damaged credit. They are rated in the top 7 in the entire country and is a reliable way to prevent hidden fees on a credit card.