Enrichment
By: Kymber Roberts
Commercial Banks
Commercial Banks are a for-profit depository business. They offer financial services to both the consumers and other businesses. An example of one of those services is a checking account. Banks are usually the largest depository institutions. They offer the widest variety of services to customers. An example of one of a benefit is has is they are built to fit your business needs.
Sorces:
http://www.investinganswers.com/financial-dictionary/debt-bankruptcy/commercial-bank-2364
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Credit Unions
Credit Unions are non-profit depository institutions. They offer many banking services and are owned by the customers unlike banks. An example of one of the banking services it offers is being able to deposit money. They are exempt from federal income tax. One of the benefits is has is it charges lower interest rates.
Sources:
http://www.claimyouryouth.com/The-CU-Difference/ID/67/Products-and-Services-Offered-by-Credit-Unions
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