Kyle Uses a Local Financial Institution for His Banking Needs

question 57

Multiple Choice

Kyle uses a local financial institution for his banking needs such as a checking 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. This describes a

• A) commercial mutual bank.
• B) mutual funds bank.
• C) credit union.
• D) savings and loan association.
• E) national bank.

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Definitions:

Pueblos

refers to both the indigenous people from the Southwestern United States known for their unique adobe dwellings and to the towns established by these people.

Christianity

A monotheistic religion based on the life and teachings of Jesus Christ, its central figure.

New Netherland

A 17th-century colonial province of the Dutch Republic that encompassed parts of modern Northeastern United States, including New York, New Jersey, and Delaware.

Legal Identity

The lawfully recognized personality under which an individual or entity has rights, duties, and is subject to legal actions.