Types of Financial Institutions

A ____ is a financial intermediary that accepts deposits, makes loans, and offers checking accounts.

• bank

• payday lender

• federal reserve

• brokerage firm

An organization that provides services related to money

• commercial bank

• charter

• financial institution

Examples of these types of banks are Wells Fargo, Chase, and Regions

• commercial banks

• credit unions

• charters

A non profit financial cooperative owned by and operated for the benefit of its members; services offered only to its members

• credit union

• commercial bank

• savings and loans associations

A nonprofit depository institution that is owned by members

• Unbanked

• Brick-and-mortar bank

• Digital bank

• Credit union

What are the three types of financial institutions?

• Banks

• Credit Unions

• Savings & Loan

• Post Office

Bayport Credit Union and Old Point National Bank are examples of-

• Government agencies

• Major economic systems

• Public goods and services

• Private financial institutions

a non profit financial cooperative owned by and operated for the benefit of its members; services offered only to its members

• credit union

• commercial bank

• savings and loans associations

Which of the following are considered a “financial institution?

• bank

• insurance company

• savings and loan

• all of the above

What are the THREE types of financial institutions?

• Post office

• Savings & Loan

• Banks

• Credit Unions