Which term describes a financial institution that accepts deposits and provides loans?

• A. Banc
• B. Credit Union
• C. Investment Firm
• D. Brokerage

Answer: (A)

The term that describes a financial institution that accepts deposits and provides loans is a "Credit Union." Credit unions are member-owned financial cooperatives that operate to provide their members with a safe place to save and borrow money. They offer various financial services, including accepting deposits, providing loans, and potentially other services like checking accounts or credit cards, typically at lower fees and better interest rates than traditional banks.

Banc, while related to banking, is not a commonly used term to describe a specific kind of financial institution focused on deposits and loans. Investment firms primarily deal with managing investments and do not typically take deposits or provide traditional loans. Brokerages focus on buying and selling securities and do not operate in the same manner as institutions that accept deposits and provide loans.