Question

Which of the following is NOT a true statement about a credit union and a traditional bank?  

a. they are both for-profit institutions.
b. they both offer a checking accounts.
c. they both pay interest on savings to their customers.
d. all of the above

Answer 1

The statement that is NOT true about a credit union and a traditional bank is an option (a) - they are both for-profit institutions. Credit unions are not-for-profit institutions, while traditional banks are for-profit institutions.