Credit unions may be a good choice for your bank because they are non-profit, provincially incorporated institutions owned by those who use them.

Question

Quizplus · Accepted Answer

Credit unions are indeed non-profit institutions, and they are owned by their members or account holders rather than by external shareholders or investors. While they do offer many of the same types of financial products and services as traditional banks, they operate under a different business model that prioritizes the needs and interests of their members rather than generating profits for a small group of stakeholders. This can make credit unions a good choice for consumers who prioritize affordability, personalized service, and community involvement in their banking relationships.

Credit Unions May Be a Good Choice for Your Bank