respond to discussion

Some advantages to credit unions over banks are that they have lower fees and better rates. Their services such as ATM usage and loan origination fees are lower while they also provide higher interest rates on savings accounts and lower interest rates on loans compared to traditional banks. Some disadvantages are their limited amount of product and services. They may not offer the wide range of financial services compared to larger banks. For example, they might have fewer credit card options or investment products. During the pandernic, credit unions faced many chalienges. Foot tratfic plummeted at credit unions. Member experiences were key to credit unions and the pandemic forced them to become creative when choosing how to serve their customers. They chose to focus on still producing positive experiences by creating sreat experiences online and on the phone. These institutions could speed up the the recovery by continuing their development on digital innovation Growing in digital innovation can boost credit unions effetiveness in serving their customers efficiently, By investine in strong online and mobile banking systems, credit unions can enhance accessibuitg and convenience for their members. Credit Unions can also make it more affordable to access credit. Credt unions have the ability to offer affordablecredit to individuals and businesses seeking financial assistance to recover from the pandemic's effects. Through providing loans with faworable terms, credit unions can aid their members in rebuilding their finances and contribute to the recovery of local businesse- Their emphasis on social responsibility and financial well-being makes them valuable assets in the community