Respuesta :
No,Credit union are not safer than a Bank.
Institution that is not for profit is a Credit union. Retail banks are businesses that make money.
What is Credit union?
- While banks typically have more modern mobile apps and online technology, credit unions typically charge lesser fees and offer greater interest rates on savings accounts and loans.
- Banks frequently have more locations and ATMs in the country. Some credit unions counteract this benefit with a network of 5,600 CO-OP Shared Branch locations and more than 54,000 surcharge-free ATMs.
- Credit unions are renowned for offering superior client service, in contrast to huge national banks who frequently have more rigid policies and less discretion in their decision-making.
- Credit unions are owned by their members and are Non-profit organizations. Banks are required to turn a profit for their shareholders, while credit unions are not required to do the same for their members.
Hence Credit Union is not safer than a Bank.
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No, Credit union are not safer than a Bank.
What is Credit union?
While banks typically have more modern mobile apps and online technology, credit unions typically charge lesser fees and offer greater interest rates on savings accounts and loans. Banks frequently have more locations and ATMs in the country. Some credit unions counteract this benefit with a network of 5,600 CO-OP Shared Branch locations and more than 54,000 surcharge-free ATMs. Credit unions are renowned for offering superior client service, in contrast to huge national banks who frequently have more rigid policies and less discretion in their decision-making. Credit unions are owned by their members and are Non-profit organizations. Banks are required to turn a profit for their shareholders, while credit unions are not required to do the same for their members.
To know more about credit union visit:
brainly.com/question/12730078
#SPJ4
