Question
A credit union is an example of a A. service cooperative. B. conglomerate. C. producer cooperative. D. consumer cooperative.
Answer
4
(207 Votes)
Mason
Veteran · Tutor for 10 years
Answer
A. service cooperative.
Explanation
A credit union is a type of cooperative that provides financial services primarily to its members. It operates on principles of helping and benefiting its members through various financial services like savings, loans, and other banking services. Unlike a consumer cooperative, which provides goods and services to its members for their personal use, a credit union strictly falls under the category of service cooperatives as it offers banking and financial services.