What are the Different Types of Financial Institutions?
Today, there are many different types of financial institutions providing a wide range of services to individual consumers and businesses alike. Some of these institutions offer general services while others are more specialized in what they offer. Here are examples of several of the more common types of institutions that may be of help, depending on what type of finances are under consideration.
Today, there are many different types of financial institutions providing a wide range of services to individual consumers and businesses alike. Some of these institutions offer general services while others are more specialized in what they offer. Here are examples of several of the more common types of institutions that may be of help, depending on what type of finances are under consideration. Perhaps the most common of all financial institutions is the bank. Banks provide the most simplistic of financial services used by a majority of consumers. Checking and savings accounts are staples of most banks, along with relatively safe investment opportunities such as Certificates of Deposit. Banks also offer services such as different types of loans and mortgages for qualified individuals and businesses. For many people, the local bank is the first and possibly only financial institution they will ever do business with.
