Respuesta :
Larger credit unions experienced greater profitability than smaller credit unions because they have comparatively larger amounts and customers with a larger value which helps them earn greater profitability.
What are credit unions?
- A credit union, which is similar to a commercial bank, is a member-owned nonprofit financial cooperative.
- Credit unions generally offer their members services similar to retail banks, such as deposit accounts, credit, and other financial services. Credit unions are known as SACCOs in several African countries (Savings and Credit Co-Operative Societies).
- The total assets and average asset size of credit union systems around the world vary greatly, ranging from volunteer operations with a few hundred members to institutions with hundreds of thousands of members and assets worth billions of dollars.
- In 2018, there were 274 million credit union members worldwide, with nearly 40 million new members joining since 2016.
- Larger credit unions experienced greater profitability than smaller credit unions because they have comparatively larger amounts and customers with a larger value which helps them earn greater profitability.
Yes, we expect this to continue because larger credit unions have greater profitability and so they have greater budget to grabthe customers.
Therefore, larger credit unions experienced greater profitability than smaller credit unions because they have comparatively larger amounts and customers with a larger value which helps them earn greater profitability.
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