Which of the following is a nonprofit,member-owned financial cooperative?

Question

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A credit union is a nonprofit financial cooperative owned and controlled by its members, who are often individuals with a common bond, such as living in the same community or working for the same employer. Credit unions typically offer services such as savings accounts, loans, and checking accounts, and are operated for the benefit of their members rather than for profit. They typically have lower fees and offer more personalized service than commercial banks. Savings and loan associations and savings banks may also be nonprofit and member-owned, but they are less common than credit unions. Commercial banks are for-profit institutions that are owned by shareholders.

Which of the Following Is a Nonprofit,member-Owned Financial Cooperative