Question

Regina was hired at a company that has its own banking area. Her boss explains that she is welcome to become a member of this depository institution that offers similar services to a bank. Which type of institution does Regina's company MOST LIKELY offer its employees?

A) Credit Union

B) Taxation

C) Web-only Financial Institution

D) Savings and Loan Institution

Answer 1

The type of depository institution that Regina's company MOST LIKELY offers its employees is a Credit Union, which is a member-owned, nonprofit financial institution that provides services similar to those of a bank.

Step-by-step explanation:

Regina's company MOST LIKELY offers its employees membership in a Credit Union. Credit unions are nonprofit financial institutions that are owned and run by their members. These members typically include individuals from a specific community, employee groups, or members of a particular organization. Unlike banks and savings and loans, credit unions operate on a cooperative model, where the focus is on serving their members rather than maximizing profits. They accept deposits, provide loans primarily to members, and are known for their community-focused approach. The total assets of credit unions are consistently growing as they offer competitive services similar to those found in banks.