Answer:If you have a savings or checking account at a bank, that bank uses your money to make a profit. It takes the money you deposit and loans that money to other customers or invests it. The bank will then pay you interest on the money that you have deposited. That interest rate can change depending on the bank you loan your money to. Banks benefit from paying you as little interest as possible. The more interest the bank pays you, the less profit the bank makes.meanwhile, If you have a savings or share draft (checking) account at a credit union, you are not loaning your money to the credit union. You are investing your money instead, and you are buying shares in the local business. You are not a customer at a credit union, you are an owner. Decisions about where the money is invested in the credit union are made by members. The people who run the credit union are often volunteers from the community.
Explanation: this will give you a 100%
The Bank and Credit Union differ in their philosophy of finance as the former is all about profit making while latter is about non-profit.
There is fundamental difference between Banks and Credit Unions. Bank's philosophy is to make profit by investing our money in the market, while giving us low interest rates.
Credit Unions on the other hand are the investment system where we invest our money for desired returns, they are not for profit organizations.
Learn More about Credit Union here:
https://brainly.com/question/2279124
