Question

Suzanne is considered a member of her financial institution, which provides chequing, savings, and other financial services. she is eligible for membership because she is a teacher. what type of financial institution is suzanne using?

a. ational bank
b. mutual savings
c. bank chartered
d. bank credit union

Answer 1

Suzanne is using a credit union, a member-owned financial institution offering services such as chequing and savings, with eligibility based on her occupation as a teacher.

Step-by-step explanation:

Suzanne is likely a member of a credit union, specifically designed for certain community members or employee groups. As a teacher, she fulfills the eligibility criteria set by the credit union which provides financial services such as chequing, savings, and other financial solutions. The credit union accepts deposits from members and focuses on making loans back to its members. Credit unions are nonprofit institutions that are owned and operated by their members and often offer competitive rates on loans and savings accounts.