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Question 38 Because credit unions _______ stock, they are technically owned by _______. issue; the depositors...

Question 38

Because credit unions _______ stock, they are technically owned by _______.

issue; the depositors

do not issue; the depositors

issue; the stockholders

do not issue; management
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Answer #1

Answer is "do not issue", "the depositors"

A credit union is basically a type of financial co-operative, where the individuals come together as a group and pool money, which could be used to lend to the members of the group. Ranging in size from small, volunteer-only operations to large entities with thousands of participants, credit unions can be formed by large corporations, organizations and other entities for their employees and members. Credit institutions are created, owned and operated by their participants. They are just like mutual companies in insurance, where policyholders are stockholders.


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