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4 votes
4 votes
Which organization provides banking through a member-owned institution?

A.
commercial bank
B.
credit union
C.
Federal Deposit Insurance Commission
D.
savings & loan association

User Ben Osborne
by
2.8k points

2 Answers

29 votes
29 votes

Answer:

B. Credit Union

Step-by-step explanation:

The organization that provides banking through a member-owned institution is a credit union. Unlike commercial banks, credit unions are not-for-profit organizations that are owned and operated by their members. Members of a credit union are typically part of a specific community or organization, such as a workplace or a geographical area. Credit unions offer similar services to commercial banks, such as savings accounts, loans, and mortgages, but with a focus on serving their members and their community. By being member-owned, credit unions aim to provide better interest rates and lower fees to their members compared to commercial banks. An example of a credit union is the Navy Federal Credit Union, which is available to members of the U.S. Navy and their families.

User Mckuok
by
2.7k points
26 votes
26 votes

Answer:

B. credit union

Step-by-step explanation:

User Lowds
by
2.6k points