Depository Institutions

Depository institutions are financial entities that accept deposits from the public and provide various financial services. This includes banks, savings and loan associations, and credit unions. They offer services like checking and savings accounts, loans, and mortgages. Depository institutions play a crucial role in the economy by facilitating money management, providing a safe place to save, and lending to individuals and businesses for growth and investment. They are regulated by government agencies to ensure safety and stability for depositors.