Credit unions and commercial banks serve different purposes based on their business models. Understanding the banking sector's diversity can help in making informed choices.
Credit unions and commercial banks have distinct characteristics that can align with individual preferences. While commercial banks focus on profit-making, credit unions prioritize member benefits and typically offer better rates for loans and savings accounts. Small banks, large regional players, and megabanks make up the competitive U.S. banking sector, each catering to different customer needs.
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