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Questions and Answers
What is the primary purpose of credit unions?
What is the primary purpose of credit unions?
- To offer financial advice and counseling
- To make direct loans to businesses and institutions
- To encourage thrift among their members and make loans available at a reasonable cost (correct)
- To underwrite customer-issued securities
What is the primary purpose of credit unions?
What is the primary purpose of credit unions?
- To provide financial services to businesses
- To encourage thrift and provide loans to members (correct)
- To maximize profits for shareholders
- To offer underwriting services for customer-issued securities
What are the two major services offered by commercial banks?
What are the two major services offered by commercial banks?
- Equipment leases and financial advice
- Credit life insurance and securities transfer services
- Transaction (checking) accounts and direct loans (correct)
- Safekeeping of valuables and credit guarantees
What is the main service offered by commercial banks to the public?
What is the main service offered by commercial banks to the public?
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What is the principal asset of commercial banks?
What is the principal asset of commercial banks?
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What is the principal asset of commercial banks?
What is the principal asset of commercial banks?
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