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The Purpose of Credit Unions Is to Serve Their Members

question 39

True/False

The purpose of credit unions is to serve their members' lending needs.


Definitions:

Legal Standard of Care

The extent of carefulness and precaution demanded from a person obligated to exercise a duty of care.

Acceptable Standard

A recognized level of quality or attainment that is considered satisfactory.

Skilled Professional

An individual with special training, knowledge, and ability in a particular area of expertise.

Prudent Person

A legal standard referring to the conduct of a hypothetical reasonable individual under specific circumstances.

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