What are brokerage firms?
Brokerage firms are a type of non-depository financial institution that manages the purchase of stocks, bonds, and other investments.
2. What are depository and nondepository financial institutions? How do they differ?
Depository institutions get their money from their customer’s deposits and they get most of their money from interest paid on loans made to customers. . They are what most people think of when you hear the word bank. Non-depository institutions are similar to mortgage, finance, and insurance companies. Non-depository institutions get their money from outside sources.
3. What are credit unions?
Credit unions are a type of depository institution that are non-profit and are member-owned. They can provide loans but …show more content…
What are some considerations in choosing a financial institution? Which one do you think would be the most important consideration for you in choosing a financial institution?
Some considerations in choosing a financial institution would be what products they offer, the different prices of different aspects, the location of the institution in relevance to you, and the customer service you will receive if you choose that institution. The most important consideration for me in choosing a financial institution would be the location of the institution because if there isn’t one local then I don’t want to have to drive half an hour to an hour away. I would have to have one close.
2. What are the pros and cons of U.S. savings bonds?
Some of the pros of U.S. saving bonds are you can pay no or very low taxes and you can invest low amounts into the saving bonds. Some of the cons of U.S. saving bonds are you can face penalties for doing an early redemption, and you have to be careful when you do go redeem your bond. If you do it too early or too late you could lose money.
3. What are some of the problems that individuals might face if they use one of the "problematic" financial
Brokerage firms are a type of non-depository financial institution that manages the purchase of stocks, bonds, and other investments.
2. What are depository and nondepository financial institutions? How do they differ?
Depository institutions get their money from their customer’s deposits and they get most of their money from interest paid on loans made to customers. . They are what most people think of when you hear the word bank. Non-depository institutions are similar to mortgage, finance, and insurance companies. Non-depository institutions get their money from outside sources.
3. What are credit unions?
Credit unions are a type of depository institution that are non-profit and are member-owned. They can provide loans but …show more content…
What are some considerations in choosing a financial institution? Which one do you think would be the most important consideration for you in choosing a financial institution?
Some considerations in choosing a financial institution would be what products they offer, the different prices of different aspects, the location of the institution in relevance to you, and the customer service you will receive if you choose that institution. The most important consideration for me in choosing a financial institution would be the location of the institution because if there isn’t one local then I don’t want to have to drive half an hour to an hour away. I would have to have one close.
2. What are the pros and cons of U.S. savings bonds?
Some of the pros of U.S. saving bonds are you can pay no or very low taxes and you can invest low amounts into the saving bonds. Some of the cons of U.S. saving bonds are you can face penalties for doing an early redemption, and you have to be careful when you do go redeem your bond. If you do it too early or too late you could lose money.
3. What are some of the problems that individuals might face if they use one of the "problematic" financial