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Which type of financial institution is considered a forDepository institutions
Commercial banks: Commercial banks are for-profit companies that allow customers to deposit money into checking and savings accounts, borrow money, and more.
Which financial institution is a not forCredit unions are not-for-profit organizations whose mission is to serve their members with banking products and services. If you use a credit union, you are the member of a nonprofit cooperative. Often, savings accounts are called share accounts, while checking accounts may be called share drafts.
Which of the following institutions is not a depository institution?Those that accept deposits from customers—depository institutions—include commercial banks, savings banks, and credit unions; those that don't—nondepository institutions—include finance companies, insurance companies, and brokerage firms.
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