What is a credit union?
A) A nonprofit depository institution that serves members who have a common affiliation
B) A financial institution that accepts deposits and uses the funds to provide private business and personal loans
C) A group of workers who pay union dues for credit
D) A place where it snows

Question

Quizplus · Accepted Answer

A credit union is a nonprofit depository institution that serves members who have a common affiliation, such as a profession, place of worship, or community organization. Members pool their deposits to provide loans and other financial services to each other at lower rates and with fewer fees than for-profit banks.

What Is a Credit Union