Informative Narration Sample
Description
Vocal Characteristics
Language
EnglishVoice Age
Young Adult (18-35)Accents
North American (General) North American (US General American - GenAM)Transcript
Note: Transcripts are generated using speech recognition software and may contain errors.
So what's the difference between a credit union and a commercial bank? The services offered by each are essentially the same. Both give loans, maintain checking and savings accounts and so on. The key distinction is that a credit union is a financial cooperative created for the benefit of its members and owned by those same members. In other words, it's only financial obligation is to serve the people who have deposits at the bank. A commercial bank is a for profit institution owned by private interests or in many cases traded on the stock market and owned by shareholders. Its financial obligation is to make money for those people, account holders at a commercial bank are not owners, but merely customers. So the bank is only motivated to serve their interests in so far as it's ultimately profitable.