A financial institution that is owned by its depositors is called a(n)

Name: A financial institution that is owned by its depositors is called a(n)
Brand: Quizplus
Rating: 4.9 (48 reviews)

Question

Quizplus · Accepted Answer

A mutual savings bank is owned by its depositors, who also share in the profits through the form of dividends or decreased loan rates. Common stock banks, insurance companies, savings and loan associations, and national banks may have ownership that includes shareholders, members, or a combination of both.

A Financial Institution That Is Owned by Its Depositors Is