Which of the following is a depository financial institution?
A)Life insurance companies
B)Credit unions
C)Pension funds
D)Mutual funds

Question

Quizplus · Accepted Answer

Credit unions are depository financial institutions that accept deposits from members, manage these deposits within various financial products, and make loans. Unlike life insurance companies, pension funds, and mutual funds, which primarily provide investment and insurance services, credit unions function similarly to banks but are member-owned and often offer more favorable rates.

Which of the Following Is a Depository Financial Institution