Which statement best explains the difference between a bank and a credit union?

Both provide loans and checking or savings accounts, but banks collect interest from loans while credit unions offer interest-free loans only.
A bank provides a full range of banking services, but a credit union is limited to checking and savings accounts only.
Banks must follow the guidelines of the Federal Reserve, but credit unions are not required to do so.
Both provide banking services such as loans, checking accounts, and savings accounts, but a bank is privately owned and a credit union is owned by its members.

Answers

Answer 1

Answer:

Banks must follow the guidelines of the Federal Reserve, but credit unions are not required to do so.

Explanation:

Answer 2
Banks follows guidelines of federal reserve but credit union doesnt

Related Questions

i just asked my best friend if she talk ab me behind my back bc i kinda have trust issues and i dont get what she means by this.... do yall have any idea?

Answers

She doesn’t have anyone to talk behind ur back with so she’s implying that if she did she would

Hope it helps
Don’t overthink it
she’s basically implying that if she had people to talk to abt you, she would, leave her, you deserve better <3

Which of the following was signed by the colonists to separate themselves politically from Britain?

Answers

Answer:

By issuing the Declaration of Independence, adopted by the Continental Congress on July 4, 1776, the 13 American colonies severed their political connections to Great Britain.

Explanation:

The Declaration of Independence, 1776

Which of the selections below was a belief of the Founding Fathers that mirrored John Locke's idea of the social contract?

Answers

It was a human being that lived on our solar system
government can only exist if the people it serves support its existence.

Is the following statement true or false?

The colonists' primary concern was that they were paying too much in taxes to the British government.

Answers

Answer:

true.

Explanation:

The answer is true.…

Which of the following correctly explains where banks get the money to lend consumers?

From people who open accounts
From profits made on interest charges
From the Federal Reserve
From other banks in the same district

Answers

from the federal reserve i think
People who open accounts
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