CREDIT UNIONS AND BANKS

This is because credit unions are generally comprised of members who share a particular characteristic, such as working in a particular industry. Credit unions for teachers are common, for example. Since credit unions are non-profit organizations, they are able to pay higher interest to depositors and charge lower interest rates to borrowers. In addition, since members are the only ones who participate in the credit union activities, there is additional incentive to provide a "good deal" to the membership base ("Banking Information" 1).

The types of accounts and activities that are offered at both institutions are similar, with checking accounts, savings accounts and consumer loans available from both banks and credit unions. However, depositors at banks have accounts insured up to $100,000 by the Federal Deposit Insurance Corporation (FDIC) while depositors at credit unions have their accounts insured up to $100,000 by the National Credit Union Share Insurance Fund (NCUSIF) ("National Cre

. . .
tland can put ethical considerations aside. Scotland is part of the United Kingdom, and as such, is also part of the European Union. Ethical considerations must be in keeping with the laws and practices of these two groups, and companies would do well to examine the ethical standards expected in advertising and in business practices. As an example, deceptive advertising is not permitted, and business practices prohibit bribes to officials in business or government who might exercise influence over a company's dealings (Blin 1). Companies that use franchise arrangements will find that their activities are covered by the European Code of Ethics for Franchising. This code covers the key areas associated with franchising, including advertising for franchisees, the franchise agreement itself, and the relationship between master franchisors and franchisees. This code applies to countries in the EU in addition to Scotland, but companies considering a franchise arrangement for marketing their goods in Scotland must abide by this code. American companies will find that the code is not significantly different from legal issues that confront American companies in the United States, and generally, companies that use franchising in the
. . .

Some common words found in the essay are:
SCOTLAND Ethical, Banking Information, United Similar, Ethics Franchising, Middle East, Union Ethical, Scotland English, UNIONS BANKS, European Europe, European Asian, credit unions, retrieved 18, 18 mar, mar 2005, retrieved 18 mar, 18 mar 2005, american companies, 2005 retrieved 18, 2005 retrieved, credit union, code ethics, banking information, scotland ethical, accounts insured $100000, banking information 1,
Approximate Word count = 1262
Approximate Pages = 5 (250 words per page)

More Essays on CREDIT UNIONS AND BANKS