Credit unions are: Group of answer choices member-owned financial cooperatives. mortgage lenders. available to the general public. special commercial lenders. large institutions when compared with commercial banks.

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26-05-2022
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Credit unions are: Group of answer choices member-owned financial cooperatives. mortgage lenders. available to the general public. special commercial lenders. large institutions when compared with commercial banks.

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anthougo anthougo · Answer 1 · 2022-06-08T11:44:47+02:00

Credit unions are naturally A. member-owned financial cooperatives, and not mortgage lenders, special commercial lenders, or large institutions comparable with commercial banks.

How are credit unions different from other financial institutions?

Unlike other financial institutions, credit unions operate as non-profit financial institutions with low-interest rates.

Other financial institutions include:

Central banks (e.g. the Federal Reserve)
Retail and commercial banks
Internet banks
Mortgage banks
Savings, and loans.

Thus, Credit unions are naturally A. member-owned financial cooperatives.

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