which of the types of financial institutions below is set up by a local government and allows borrowers and…

which of the types of financial institutions below is set up by a local government and allows borrowers and depositors to vote on how it is run?\na mutual savings bank\na credit union\na commercial bank\na savings and loan association

which of the types of financial institutions below is set up by a local government and allows borrowers and depositors to vote on how it is run?\na mutual savings bank\na credit union\na commercial bank\na savings and loan association

Answer

Brief Explanations:

Credit unions are often community - based, set up by groups which can include local - government affiliated entities, and are member - owned. Members (borrowers and depositors) have a say in the management through voting. Mutual savings banks, commercial banks, and savings and loan associations do not typically have the same member - voting structure based on the description given.

Answer:

B. A credit union