Unit 4 Text Questions.pptx - Unit Four Text Questions Liz...

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Unit Four: Text Questions Liz Dove
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What are brokerage firms? Brokerage firms manage and facilitate the purchase of stocks, bonds and other types of investments. A brokerage firm is one type of non- depository financial institution. These firms make their money by charging a fee or commission for each sale or purchase on the part of an individual investor.
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What are depository and nondepository financial institutions? How do they differ? Depository institutions are those that receive their money from customer deposits. Their profit is largely created through the interest paid on loans made to customers. Nondepository institutions are those that receive their money from other sources. There are institutions like mortgage companies, finance companies, and insurance companies.
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What are credit unions? Credit unions are nonprofit, member-owned institutions. Credit unions are one type of depository institution. They are able to provide loans through deposits to checking and saving accounts.
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