Answered

What is an advantage of credit unions?

A. They are for-profit institutions, and their primary concern is profit.
B. They are nonprofit institutions, and their primary concern is the member.
C. They are for-profit institutions, and their primary concern is mortgages.
D. They are nonprofit institutions, and their primary concern is investment.



Answer :

GinnyAnswer

Final answer:

Credit unions, as nonprofit institutions, prioritize their members' interests and offer better rates and fees. They are advantageous for mortgages due to their flexibility with credit requirements.


Explanation:

One advantage of credit unions is that they are nonprofit institutions whose primary concern is the member. They are owned and operated by their depositors, which allows them to offer better interest rates and lower fees compared to for-profit banks. For example, credit unions are a great place to secure a mortgage due to their flexibility and willingness to work with individuals with less-than-perfect credit.


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