Which type of cooperative is organized primarily to engage in savings and credit services and other financial services under the regulatory powers and supervision of the CDA?

• A. Credit Cooperative
• B. Financial Service Cooperative
• C. Cooperative Bank
• D. Insurance Cooperative

Answer: (B)

Financial Service Cooperative is organized to provide savings and credit and a broader set of financial services to its members, all under the regulatory supervision of the CDA. This category is designed for financial activities that go beyond just saving and lending, encompassing a wider range of financial services while staying within the cooperative framework. That broader scope—combined with CDA oversight—fits the description best. A credit cooperative focuses mainly on savings and loans, a cooperative bank typically falls under banking regulators rather than CDA, and an insurance cooperative centers on insurance services under the Insurance Commission.