Hi, iam Sherry Horning, Hope you’re having a great week!
Hey there! Banks are a major part of our lives, and they come in all shapes and sizes. From big banks to small community banks, each one offers different services and products. Let’s take a look at the major categories of banks so you can decide which one is right for you.
How Many Major Categories Of Banks Are There? [Solved]
Well, you’ve got your commercial banks, thrifts like savings and loan associations and savings banks, and then credit unions. Put ’em all together and that’s the three major types of depository institutions in the US. Pretty cool, huh?
Banks are a major part of our financial system, offering services like savings accounts, checking accounts, loans and more. They’re divided into two main categories: commercial banks and investment banks. Commercial banks provide everyday banking services to individuals and businesses, while investment banks focus on helping companies raise capital by issuing stocks or bonds. Both types of banks play an important role in the economy by providing access to capital for businesses and individuals alike.
