Credit unions have several advantages over banks. These include the following:
I. Credit unions are not taxed.
II. Credit unions are better diversified than banks.
III. Credit unions can collectively pool funds.
IV. Due to regulations,credit unions have better economies of scale and scope than banks.
V. Because of their ties to employers,credit unions have better personnel expertise than banks.

Question

Quizplus · Accepted Answer

This is because options I and III are advantages exclusive to credit unions, while the advantages in options II, IV and V can be contested as to whether they are applicable across all credit unions or if they are specific to some.

Credit Unions Have Several Advantages Over Banks