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Differentiate between a bank and a credit union.

  • Consider your own financial situation. Explain what financial institution is better suited for your financial position and explain why.
  • Identify a credit union in your area of residence that you may be eligible to use. If one is not available in your locality, you may choose one available online. State the eligibility requirements you may or may not meet for this credit union. Consider you have established a hypothetical relationship with a credit union. Explain how you would use the union to best plan your finances.

Having read about banks and credit unions, do the following:

  • Identify one large national bank, one regional or local bank, and one credit union in your geographic area or online, if none are available in your locality.

Note: Identifying appropriate institutions will help you complete M3: Assignment 2, So be sure to consider your choices carefully.

As part of your initial post, also respond to the following:

  • Post the Web site links for the three institutions you have identified.
  • Describe some of the services the institutions offer. Specify the interest rates offered on either savings or loans.

Write your initial response in 1–2 paragraphs. Apply APA standards to citation of sources

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