A credit union is a financial institution that is owned by its members. True False

2. Which of the following statements about credit unions and building societies is true?a) They often draw their membership from a particular industry or section of thecommunity.b) They are generally major public companies with millions of shareholders, many ofwhom are not customers.c) All members are paid a share of any profits that are made.d) They are permitted to make small loans to members but cannot provide financefor home or property purchases.

Credit Unions are examples of: Group of answer choicesPrivate CompaniesNon-profit OrganizationsPublic CompaniesGovernment Agencies

(I) Banks are financial intermediaries that accept deposits and make loans. (II) The term "banks" includes firms such as commercial banks, savings and loan associations, mutual savings banks, credit unions, insurance companies, and pension funds.Question 7Answera.Both are false.b.Both are true.c.(I) is true, (II) false.d.(I) is false, (II) true.

A financial institution that accepts deposits, makes loans, and provides other services as a nonprofit organization is called a:A.retail bank.B.credit union.C.payday lender.D.title pawn lender.SUBMITarrow_backPREVIOUS

Which is not an example of a financial institution for consumers?Question 28Select one:a.insurance companiesb.central banksc.banksd.credit cooperatives