Which of the following statements is true?

Question

Quizplus · Accepted Answer

The statement "On average building societies are larger than credit unions and their total share of the depository institution market has decreased significantly since 1992" is true. This is supported by data from the Federal Reserve Bank of St. Louis, which shows that as of 2019, the average asset size of building societies was approximately $8.8 billion, while the average asset size of credit unions was approximately $305 million. Additionally, the total share of the depository institution market held by building societies has decreased from approximately 3% in 1992 to less than 1% in recent years.

Which of the Following Statements Is True