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WAEC Commerce 1995 Question 37

Question 37

Co-operative Societies

Which of the following is formed primarily to promote savings and loans among the members?

  1. A.Consumer co-operative society
  2. B.producer co-operative society
  3. C.Co-operative wholesale society
  4. D.Retail co-operative society
  5. E.Co-operative thrift and credit society
Show the answer and explanation

Answer: E (Co-operative thrift and credit society)

Explanation

Thrift and credit societies collect members' savings and lend to members.