A difference between credit unions and commercials banks is that
A)credit unions are tax exempt
B)credit unions are not regulated by the federal government
C)credit unions do not offer transactions deposits
D)commercial banks are tax exempt

Question

Quizplus · Accepted Answer

Credit unions are tax exempt because they are not-for-profit organizations that are owned by their members, whereas commercial banks are taxed because they are for-profit businesses.

A Difference Between Credit Unions and Commercials Banks Is That