Personal Finance - 8.2 Financial Institutions

for-profit financial institutions that accept deposits and offer a variety of deposit accounts and financial services

• retail bank

• credit union

• online bank

• investment operator

nonprofit financial institutions that are owned and operated by their members; offer deposit accounts and lending services similar to a retail bank but at a lower cost

• retail bank

• credit union

• online bank

• investment operator

also known as internet banking; all transactions done online; no physical location

• retail bank

• credit union

• online bank

• investment operator

an option offered by banks to cover overspending an account and then charge a fee for it

• overdraft protection

• overdraft fee

• underdraft protection

• underdraft fee

a penalty charged if the account holder spends more than their account balance, causing the available balance to go below zero

• overdraft protection

• overdraft fee

• underdraft protection

• underdraft fee

provide market advice, explain regulations, and help businesses price and sell stocks or bonds to their investors. 

• investment banks

• investment service institutions

• financial advisement companies

• help people with specific advice related to comprehensive investing strategies. 

help people who want to invest their money in stocks or mutual funds. 

• investment banks

• investment service institutions

• financial advisement companies

• help people with specific advice related to comprehensive investing strategies. 

provide investment advice, income tax preparation, and estate planning.

• investment banks

• investment service institutions

• financial advisement companies

• help people with specific advice related to comprehensive investing strategies. 

help people with specific advice related to comprehensive investing strategies. 

• investment banks

• investment service institutions

• financial advisement companies

• wealth management firms

will find affordable and appropriate insurance plans for their clients. 

• insurance brokers or agents

• mutial fund brokers

• stock brokers

• loan sharks