55.3k views
1 vote
Which financial service is LEAST LIKELY to be offered by a credit union?

trust accounts
savings accounts
automobile loans
certificates of deposit

User SirKnigget
by
7.7k points

1 Answer

4 votes

Trust accounts financial service is LEAST LIKELY to be offered by a credit union.

Option: A

Step-by-step explanation:

A trust account is a legal contract by which a third party designated as the trustee retains funds or assets for the advantage of another person (the beneficiary), which may be an entity or a community.

There are many types of trusts that cater to different objectives, since they all operate the same in nature. An escrow system, for instance, is a kind of real estate trust account. Another common method of trust is a revocable living trust, and is used in estate planning. When a minor inherits assets from a will or earns a life insurance payout, a trust account may also be of benefit.

User Edalvb
by
8.3k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.