Question

_______________ are owned by members so that members can share funds among themselves. Members who saved deposit the funds. These funds are then loaned to members who need the funds.

Answer 1

Answer:

Credit Unions

Explanation:

Credit Unions -

It is financial entity , which is owned and controlled by some members , which help other people by providing financial services to the needy , is referred to as credit union .

All over the world , there are many credit union running , whose common principle is people helping people .

In the year 2018 , there are 274 million credit union , with members of around 40 million .

Hence, from the given information of the question ,

The correct term is credit union .