5
QuizMultiple Choice

Banking: How to Manage Your Money

Question 5 • ***CPS Online Personal Finance fall – 3-2027

What is a major difference between retail banks and credit unions?

Answer
A
Retail banks only serve businesses, while credit unions only serve individuals.
B
Retail banks operate in order to earn profit, while credit unions are nonprofit.
C
Retail banks only have small local branches, while credit unions are nationwide.
D
Retail banks manage a person’s money, while credit unions focus on providing loans.
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