jvaldovinos147 jvaldovinos147
  • 03-06-2022
  • Business
contestada

Why can a credit union lend money to members at reduced rate

Respuesta :

Dero777
Dero777 Dero777
  • 03-06-2022

Answer:

Credit unions are able to offer lower rates compared to traditional banks because of their business structure. Most banks are for-profit companies, meaning they reinvest their income to earn more profit or they pay it out to shareholders. Banks are also subject to federal and state income taxes.

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