Financial Institutions
Commercial Banks Vs. Credit Unions
Commercial Banks
> Work/serve for a profit
> Serve customers and other businesses
> Most popular form of financial institutions
> Offer the largest amount of use to customers
> Open to everyone
Credit Unions
> Ran and owned by customers
> Exclusive to only certain people
> Non-profit
> Tend to have larger interest rates on deposited money
> Have lower interest on money that has been loaned