A(n)____ is a depository institution that is owned by its depositors,who are members of a common organization or association,such as an occupation,a religious group,or a community.
A) pension fund
B) commercial bank
C) credit union
D) insurance company
E) mutual fund

Question

Quizplus · Accepted Answer

The description fits that of a credit union, as it is owned by its depositors/members who share a common affiliation, as opposed to a commercial bank or insurance company. A pension fund and mutual fund are investment entities, not depository institutions.

A(n)____ Is a Depository Institution That Is Owned by Its