A business unit in which savings of members are lent to others is a?
Answer Details
A credit and thrift society is a business unit in which savings of members are lent to others. In this type of society, individuals come together to pool their savings and then make loans to each other. Members of the society act as both borrowers and lenders, and the interest earned on loans is shared among all members. This type of society allows individuals to access credit at favorable terms and also provides a way for members to save and earn interest on their savings.