Topic 7 Flashcards
1
Q
Who owns building societies
A
It’s members
2
Q
What is a credit union
A
Credit union are owned and run by the individuals who are their members credit unions members must share a common bond these are :
Live and work in a certain area
Work for a specific employer
Work in a particular industry
Belong to a specific organisation
3
Q
What do credit unions offer
A
Life assurance
Pre paid cards cash or debit card
And savings and loans
4
Q
Unusual things post office offer
A
Home and car insurance policies
Travel insurance
Life cover including free new parent life cover
Pet insurance
5
Q
The free new parent life cover from the post office what is it
A
It’s free of charge has a 12 month term from the date the baby and pays out 15000 on the death of either parent or 30000 if both die
