Multiple Choice
Kyle uses a local financial institution for his banking needs such as a chequing and savings account. When he asks the manager what the money he has deposited is used for, the manager explains that the institution deals primarily with consumer loans and home mortgage loans. Anyone can open an account at this institution. What type of financial institution is Kyle using?
A) commercial mutual bank
B) mutual funds bank
C) credit union
D) chartered bank
Correct Answer:
Verified
Correct Answer:
Verified
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