Which of the following statements regarding credit unions is true?
A)They make secured loans only to non-members.
B)They are owned and managed by the government.
C)They provide installment loans to their members.
D)They charge higher interest rates than other sources of consumer loans.
E)They are profit-making organizations.

Question

Quizplus · Accepted Answer

Credit unions provide installment loans to their members, distinguishing them from other financial institutions by offering services primarily to their membership base.

Which of the Following Statements Regarding Credit Unions Is True