A bank and a credit union are directly across the street from the high school in my district. In my civics course students often asked me what the difference is between the two. The following video offers a concise explanation of the differences.
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My local credit union offers teenagers no-fee savings accounts with a minimum $5 deposit. Kids can even get an ATM card for that account with a parent’s approval. I tried to find the same offer from banks in the area and failed. Ask students why the credit union offers a better account option for teenagers.