as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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compare and contrast the financial roles of banks and credit unions.
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banks and credit unions both offer similar financial services, such as lending and deposit accounts, but there are a few key differences. banks are typically larger and offer more services, such as investment products, but their fees and interest rates can be higher than credit unions. on the other hand, credit unions are typically not-for-profit co-operatives owned and run by members, so they can offer lower fees and interest rates, but their services are typically more limited than banks.
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