Which of the following are true statements? (Check all that apply.)

Question

Multiple select question.

Credit unions are an example of a commercial bank.

Savings and loan associations are examples of thrift institutions.

Mutual savings banks are commercial banks.

Thrift institutions supplement commercial banks.

Answer 1

Let's evaluate each statement:

1. Credit unions are an example of a commercial bank.

   • False. Credit unions are not commercial banks; they are member-owned financial cooperatives.

2. Savings and loan associations are examples of thrift institutions.

   • True. Savings and loan associations (S&Ls) are indeed considered thrift institutions.

3. Mutual savings banks are commercial banks.

   • False. Mutual savings banks are not classified as commercial banks; they are also considered thrift institutions.

4. Thrift institutions supplement commercial banks.

   • True. Thrift institutions (like savings and loan associations and mutual savings banks) provide additional options for savings and loans alongside commercial banks.

Based on this evaluation, the true statements are:

• Savings and loan associations are examples of thrift institutions.
• Thrift institutions supplement commercial banks.