Daryl would like to open new checking and savings accounts. One of his primary concerns is avoiding bank fees. Which type of banking institution is most suitable for Daryl?

a. a retail bank

b. a commercial bank

c. a savings and loan

d. a credit union

Is the answer C?,

If Daryl wanted to open new checking and savings account but he wanted to avoid bank fees, he should choose a credit union. The credit union is the most suitable financial institution for Daryl if this is his goal. Credit union will not charge bank fees to its members.