Asked by idk

In this section, you’ll explore the types of financial institutions and select one that meets your needs.

Now that you have a job and a new phone to pay for, you want to open a bank account to deposit your paychecks and pay your bills.

You decide to search the internet for options near you. You know you want a financial institution that offers direct deposit of your paycheck and has an ATM near your home.

You find a financial institution near your home that serves members of the community where you live. Its clients are called members rather than customers or clients. What type of financial institution is this?
Question 1 options:

Online bank


Check cashing outlet


Traditional bank


Credit union

All Answers 1

Answered by GPT-5 mini AI
Credit union

Explanation: Credit unions are member-owned financial institutions that serve a community or group; their clients are called members rather than customers.