Question

what is a major difference between retail banks and credit unions?
retail banks only serve businesses, while credit unions only serve individuals.
retail banks operate in order to earn profit, while credit unions are nonprofit.
retail banks only have small local branches, while credit unions are nationwide.
retail banks manage a persons money, while credit unions focus on providing loans.

Explanation:

Retail banks are for - profit institutions aiming to make money for shareholders. Credit unions are member - owned, not - for - profit organizations that operate for the benefit of their members.

Answer:

Retail banks operate in order to earn profit, while credit unions are nonprofit.