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  • 15-05-2024
  • SAT
Answered

What is a major difference between retail banks and credit unions?



Retail banks only serve businesses, while credit unions only serve individuals.

Retail banks operate in order to earn profit, while credit unions are nonprofit.

Retail banks only have small local branches, while credit unions are nationwide.

Retail banks manage a person’s money, while credit unions focus on providing loans.

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