35. Which of the following statements is/are TRUE regarding credit unions? CIRCL

Question

35. Which of the following statements is/are TRUE regarding credit unions? CIRCLE ALL THAT APPLY. (2 points) Credit unions serve the needs of corporate and individual customers. Common bond membership is the requirement that all members of the credit union must purchase the same type of bond to provide capital for the credit union. Credit unions offer insured deposit accounts with similar protection for depositors as provided by the FDIC for depositors at commercial banks. a. b. c. d. Credit unions are organized as mutual funds.

Explanation / Answer

a and c are true.

They are not in the mform of mutual funds and common bonds refer to lending based on social connection, solidarity lending and collective responsibility

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