A business unit in which savings of members are lent to others is a
A. consumer cooperative society B. producer cooperative society C. credit and thrift society D. wholesale cooperative society
Correct Answer: C
Explanation
Credit and Thrift society is an association of low income earners who joinlty pool large resources or fund together by contributing on a weekly or monthly basis. This type of society encourages savings habits among their members grant loans to the members out of the accumulated fund.
