Question

13. What type of organization is a credit union?

a. franchise
b. service cooperative
consumer cooperative
C.
d. nonprofit organization

Answer 1

A credit union is a nonprofit organization that provides financial services to its members on a cooperative basis.

Step-by-step explanation:

A credit union is a nonprofit organization that provides financial services to its members. It is owned and controlled by its members, who pool their money to provide loans and other financial services to one another. Unlike a bank, which is usually owned by shareholders, a credit union is operated on a cooperative basis.

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