Which of the following financial institutions is a not-for-profit organization that is open only to members of that institution and tends to offer more favorable interest rates to borrowers and savers?

Question

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Credit unions are not-for-profit organizations that are membership-based; they tend to offer better interest rates on loans and deposits because they return their earnings to their members rather than shareholders. Savings banks and savings and loan associations are often for-profit organizations, while commercial banks are also for-profit and usually do not limit their membership to specific groups.

Which of the Following Financial Institutions Is a Not-For-Profit Organization