Which of the following is usually a benefit of being a member at a credit union?
The answer choices are:
- Higher interest rates and lower fees
- Lower interest rates and higher fees
- Lower interest rates and lower fees
- Higher interest rates and higher fees
The correct answer is:
“Lower interest rates and lower fees.”
Credit unions are known for offering lower loan rates, lower fees, and higher interest on savings, as they are member-owned, nonprofit organizations focused on serving their members.