The main function of a thrift and credit cooperative society is to
-
A.
encourage members to buy cheaply -
B.
enable members get the highest profit -
C.
help members get legal redress -
D.
encourage members to save
Correct Answer: Option D
Explanation
Thrift and Credit Society = Is a cooperative organization that provide its members with convenient and secured means of saving money and obtained credit at a reasonable rate of interest without collateral, but deduction from salary on monthly basis.
The ultimate goal is to encourage thrift among the members and to meet the credit needs of people who might otherwise be exposed to exploitation.