Types of Financial Institutions

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Credit Unions

  1. Offer many banking services, but are owned by their customers, which are called members
  2. Credit unions are not for profit
  3. Credit unions offer over 10,000+ ATMs around the globe
  4. You are a member for life, even if you move cities or change employers
  5. There are over 7000 credit unions in the United States

Commercial Banking

  1. For profit businesses
  2. Have the power to make loans
  3. Open to anyone who wants to utilize a depository institution
  4. Offer numerous financial services
  5. Usually the largest depository institutions