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Question
pat has a savings account and a car loan from a not-for-profit financial institution owned by its members. she is probably a member of what type of financial institution? google translate investment club savings and loan association credit union commercial bank
Brief Explanations
To solve this, we analyze each option:
- Investment club: Focuses on investing, not typical savings/loan services for members in this way.
- Savings and Loan Association: Often for home loans, not member - owned in the same non - profit, member - run way as a credit union.
- Credit Union: It is a not - for - profit financial institution owned by its members, offering savings accounts and loans (like car loans).
- Commercial Bank: For - profit, owned by shareholders, not members.
So, based on the description (not - for - profit, member - owned, offers savings and car loan), the correct institution is a credit union.
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C. Credit Union