Which of the following financial institutions is a not-for-profit organization?

Commercial Bank
Commercial Bank

Credit Union
Credit Union

Savings and Loan
Savings and Loan

All of the these are correct since financial institutions do not make profits

Respuesta :

Answer:

Credit Union

Explanation:

A not for profit organization means the organization whose main goal is not to make the profit. Here the main goal is to provide the services for a particular services or to give the benefit to the people.

Like the financial services give to the members of the credit union

Therefore as per the given options, the second option is correct

Credit Union is a financial institution that is not for profit organization.

  • Credit union functions to serve the members by offering the products at affordable rates and fees.
  • The credit union changes the interest fees into products it offers in this way the credit union is not for profit organization.
  • Other financial institutions like commercial bank, savings and loan, banks give these profits to its shareholders.

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