The primary source of funds for credit unions is
A)share certificates.
B)share deposits.
C)share drafts.
D)borrowed funds from the Central Liquidity Facility (CLF).
E)none of the above

Question

Quizplus · Accepted Answer

Share deposits, also known as savings accounts, are the primary source of funds for credit unions. Members deposit money into their accounts, and the credit union uses these funds to provide loans and other financial services. Share certificates, share drafts, and borrowed funds from the CLF are also sources of funding, but they are not the primary source.

The Primary Source of Funds for Credit Unions Is