What are the primary assets of credit unions ?

A. Mortgages comma stocks comma bonds comma and real estate.

B. Car loans and consumer debt comma business loans comma government securities comma mortgages.

C. Consumer debt and long minus term mortgages.

D. Short minus term credit instruments such as large CDs and Treasury bills.

Question

Business

Shasta

22 May, 19:47

What are the primary assets of credit unions ?

A. Mortgages comma stocks comma bonds comma and real estate.

B. Car loans and consumer debt comma business loans comma government securities comma mortgages.

C. Consumer debt and long minus term mortgages.

D. Short minus term credit instruments such as large CDs and Treasury bills.

+3

Answers (1)

Know the Answer?

Kendrick Perry · Answer 1

The correct answer is B.

Explanation:

Savings and credit cooperatives or, simply, credit cooperatives are cooperative societies whose corporate purpose is to serve the financial needs of their members and third parties through the exercise of the activities of credit institutions.

Savings and credit cooperatives are also known for their acronym in English, SACCO: Savings and Credit Cooperative.

These cooperatives are usually local and seem to be more suited to rural areas. Above all they have access to external funds and they are properly managed. And although there is a World Council of Credit Unions (WOCCU) there are few local or rural cooperatives associated with it.