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3 Tutorials that teach Financial Institutions and their Services
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Financial Institutions and their Services

Financial Institutions and their Services

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Author: Aisha Williams
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This lesson is an overview of Financial and banking institutions.

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Tutorial
TERMS TO KNOW
  • Commercial Banks

    A bank that provides services to companies and individuals.

  • Mutual Savings Bank

    A bank that is set up by a local government, without capital stock and is maintained by with members who contribute to a common fund.

  • Credit Union

    A cooperative that is nonprofit, set up for a specific membership who owns it and provides a variety of banking services for it’s members.

  • Nondeposit Institutions

    An institution that can offer some services, such as a mortgage, but cannot accept deposits.

  • Savings and Loan Associations

    A financial institution that limits it’s services to making loans and accepting deposits; a legal limitation is that no more than 20% of it’s loans can be offered commercially.