Which of the following provides cooperative savings and lending services to its members?
A) Schedule B bank
B) Trustee
C) Credit union
D) Trust company
E) Pension fund

Question

Quizplus · Accepted Answer

Credit unions are financial cooperatives that provide savings and lending services to its members. They are owned and controlled by their members, who share a common bond such as living in the same area or working for the same employer. Credit unions offer competitive rates on loans and savings, and often provide other financial services such as checking accounts and credit cards. Schedule B banks and trust companies offer traditional banking services, while trustees and pension funds are focused on managing assets and investments.

Which of the Following Provides Cooperative Savings and Lending Services