BANKS AND CREDIT UNIONS

Which economic institution is NOT for profit. It is for the it's members?

• Banks

• Credit Unions

• Insurance companies

Which economic institution is for Profit?

• Banks

• Credit Unions

• Cooperatives

Which economic institution is owned by its members?

• banks

• credit unions

Which economic institution is a cooperative?

• banks

• credit unions

Which economic institution is owned by stakeholders?

• Credit union

• banks

Which is NOT a characteristic of a bank?

• Provide loans

• offers credit cards

• customers are owners

• It is in business for Profits

Which is NOT a characteristic of a credit union?

• owned by it's members

• make decisions with members in mind

• you can create a savings account

• all profits goes to stakeholders

A cooperative is an organization formed by groups with similar objects or interest

• True

• False

Banks and credit unions DO NOT allow persons to visit branch , make withdraw and deposits

• True

• False

Most banks and credit unions also issue credit cards and offer the same type of loans, such as personal loans, mortgages, auto loans and student loans.

• true

• false