Which type of institution accepts deposits from, and lends money to, only those people who are its members?

Name: Which type of institution accepts deposits from, and lends money to, only those people who are its members?
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Question

Quizplus · Accepted Answer

Credit unions are member-owned financial cooperatives that accept deposits from and lend money to only their members. They typically offer lower fees, lower loan rates, and higher interest rates on savings accounts than traditional banks.

Which Type of Institution Accepts Deposits From, and Lends Money