The major difference between banks and credit unions is that
A) credit unions are owned and controlled by depositors.
B) banks distribute their profits to depositors.
C) credit unions make large loans to corporations.
D) bank depositors vote for the bank officers.
E) credit unions have higher default rates than banks.

Question

Quizplus · Accepted Answer

Banks and credit unions perform many similar functions,with the main difference being that credit unions are owned and controlled by depositors.

The Major Difference Between Banks and Credit Unions Is That