Question 32
Co-operative SocietiesOne major characteristic of credit unions and thrift societies is that
- A.the legal processes involved in their formation are rigid
- B.membership is compulsory to people in the same line of business
- C.the contribution of every member depends on the member's ability
- D.a minimum of ten people in the same line of business can form the union.
Show the answer and explanation
Answer: C (the contribution of every member depends on the member's ability)
Explanation
Members save according to their ability; membership is voluntary.