Question

Select the correct answer.

Which type of bank is a nonprofit members-only organization that provides checking accounts, savings accounts, and loans to its members?

A.credit unions

B.saving banks

C.commercial banks

D. Saving and loan associations

Answer 1

A credit union is a type of financial organization that is owned and governed by its members. Credit unions provide members with a variety of financial services, including checking and savings accounts and loans. They are non-profit organizations.