An institution that is owned by its depositors is called a:
A)community bank.
B)commercial bank.
C)credit union.
D)finance company.

Question

Quizplus · Accepted Answer

A credit union is a type of financial institution that is owned and controlled by its members, who are also depositors. Credit unions operate as a non-profit organization and offer similar services to banks, such as savings and checking accounts, loans, and credit cards. However, credit unions typically offer lower fees and interest rates to their members because they are owned and operated by the depositors themselves.

An Institution That Is Owned by Its Depositors Is Called