Financial institutions that are called thrifts because they encourage savings are __________.

Social Studies

1 answer:

Rom4ik [11]3 years ago

8 0

Answer:

Credit union

Explanation:

Credit union refers to a financial institution which is owned and controlled by its members. They provide traditional system of banking services for their members. An individual can become a member of credit union by simply joining and opening an account with them.

They are non-profit financial institution, they are concerned about the welfare of their members. They give interest free loans to their members.

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