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
jamb 2022commerce

The correct answer is C. credit and thrift society

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.

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