After financial banks, credit unions are traditional ways of investing and saving money. However, credit unions can be differentiated from banks for their high-interest rates and members’ ownership. In banks, profit is made generally by the creditors who are investors in the bank, while in credit union’s both creditors and debtors are members of the union who also share the profit. Therefore, credit unions focus a lot on providing personalized service to the members of their organization.
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Firms in the Fintech sector will have to offer more value-added services to fight for customers in 2022 because of declines in processing margins, notes a recent research report prepared by Finch Capital, a series A/B investor in high-growth financial technologies companies, for 2022
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