Many of which of the following are nonprofit, tax-exempt, cooperative associations?
A)S&Ls
B)credit unions
C)savings banks
D)commercial banks

Question

Quizplus · Accepted Answer

Credit unions are usually nonprofit, tax-exempt, and cooperative associations owned and controlled by their members, which are the depositors. S&Ls and savings banks may also be non-profit, but they are not necessarily tax-exempt or cooperative associations. Commercial banks are typically for-profit, investor-owned institutions.

Many of Which of the Following Are Nonprofit, Tax-Exempt, Cooperative