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23 June, 10:36

How are credit unions and savings and loans different from commercial banks and finance companies?

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Answers (2)
  1. 23 June, 10:43
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    Savings institutions (also called savings & loans or savings banks) specialize in real estate financing

    Credit Unions are non-profit financial co-op owned by members and govt'n.

    Banks are community regional national for-profit buisness corp. owned by private investors. s
  2. 23 June, 10:45
    0
    Credit unions are not-for-profit financial cooperatives, whose earnings are paid back to members in the form of higher savings rates and lower loan rates. Banks are for-profit corporations, with declared earnings paid to stockholders only.
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