Credit unions differ from retail banks because they are owned by their members. owned by their employees. owned and managed by private corporations. owned by shareholders who purchased stock.

answer is owned by their members.

Credit Union : Credit union is a member-owned financial cooperative, controlled by its members and operated on the principle of people helping people, providing its members credit at competitive rates and other financial services.

Retail banking : Retail banking, also known as consumer banking is the provision of services by a bank to general public.

Hence, credit unions differ from retail banks because they are owned by their members.