Which of the following statements about credit unions is true?

Question

Quizplus · Accepted Answer

Credit unions are member-owned financial cooperatives that serve members who share a common bond, such as employment, community, or association, which contradicts statement A. They primarily focus on providing credit at competitive rates and other financial services to their members, not managing investments as suggested in B. There are far more than 500 credit unions in the United States, making statement C incorrect. Unlike for-profit banks, credit unions operate on a not-for-profit basis, which makes statement D false. Therefore, none of the provided statements about credit unions is true.

Which of the Following Statements About Credit Unions Is True