Answers CMS 2026-2027 Economics and Personal Finance CREDIT RECOVERY Money and Credit Management — TestQuestion 13

13

QuizMultiple Choice

Money and Credit Management — Test

Question 13 • CMS 2026-2027 Economics and Personal Finance CREDIT RECOVERY

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

Answer

A

Retail banks manage a person’s money, while credit unions focus on providing loans.

B

Retail banks operate in order to earn profit, while credit unions are nonprofit.

C

Retail banks only serve businesses, while credit unions only serve individuals.

D

Retail banks only have small local branches, while credit unions are nationwide.

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