state objectives of financial institutions
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PERSONAL FINANCE BANKING
What are the 9 major financial institutions?
BY MELISSA HORTON Updated Feb 3, 2019
In today's financial services marketplace, a financial institution exists to provide a wide variety of deposit, lending and investment products to individuals, businesses or both. While some financial institutions focus on providing services and accounts for the general public, others are more likely to serve only certain consumers with more specialized offerings.
To know which financial institution is most appropriate for serving a specific need, it is important to understand the difference between the types of institutions and the purposes they serve. The major categories of financial institutions include central banks, retail and commercial banks, internet banks, credit unions, savings and loans associations, investment banks, investment companies, brokerage firms, insurance companies and mortgage companies.
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