Which of the following financial institutions is most likely to be the cheapest source of funds for individual borrowers?
A) credit unions
B) savings and loans
C) commercial bank
D) insurance company
E) finance company

Question

Quizplus · Accepted Answer

Credit unions are not-for-profit organizations that are owned by their members, so they typically offer lower interest rates and fees than for-profit banks and finance companies. They are therefore likely to be the cheapest source of funds for individual borrowers.

Which of the Following Financial Institutions Is Most Likely to Be