Question

If employees of a local school district conduct their financial business through the same financial institution that they own and only they are allowed to join, the institution is probably a(n)

Answer 1

credit union

Step-by-step explanation:

Credit unions are financial institution that offer similar services as commercial banks but only to their associates (they work as cooperatives), who are also the owners of the credit union (e.g. teachers' credit union, military personnel credit union).