A ________ is a financial intermediary that deals mainly in the flow of funds between members. Membership is generally derived from some common bond.Question 7Select one:a.savings bankb.superannuation fundc.credit uniond.merchant bank
Question
A ________ is a financial intermediary that deals mainly in the flow of funds between members. Membership is generally derived from some common bond.Question 7Select one:a.savings bankb.superannuation fundc.credit uniond.merchant bank
Solution
The correct answer is c. credit union. A credit union is a member-owned financial cooperative, controlled by its members and operated on the principle of people helping people, providing its members credit at competitive rates as well as other financial services.
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