Which of the following statements is true of credit unions?
A)They make secured loans only to non-members.
B)They are owned and managed by the government.
C)They provide installment loans to their members.
D)They charge higher interest rates than other sources of consumer loans.
E)They are profit-making organizations.

Question

Quizplus · Accepted Answer

Credit unions provide installment loans to their members. Credit unions are non-profit organizations owned and run by their members, and they offer loans at lower interest rates than other financial institutions. They typically offer both secured and unsecured loans to their members.

Which of the Following Statements Is True of Credit Unions