What are the differences between credit unions and banks?
Credit unions are member-owned, not-for-profit institutions, while banks are for-profit entities owned by shareholders.
Which one typically offers better interest rates?
Credit unions often provide better interest rates on savings and loans due to their non-profit status.
Are there any fees associated with credit unions?
Yes, credit unions may have fees, but they are generally lower than those at banks. It varies by institution.
How do I choose between a credit union and a bank?
Consider factors like fees, interest rates, services offered, and your personal financial needs when choosing.
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