The three main types of banks are:
A)commercial, investment, and savings.
B)commercial, savings, and credit unions.
C)investment, commercial, and credit unions.
D)savings, finance companies, and commercial.

Question

Quizplus · Accepted Answer

Commercial banks are for-profit institutions that offer a wide range of financial services to businesses and individuals. Savings banks specialize in providing individuals with savings accounts and other deposit accounts, and often offer mortgages and other loans. Credit unions are typically not-for-profit institutions that offer financial services to members who share something in common, such as a job, geographic location, or membership in an organization. Therefore, choice B (commercial, savings, and credit unions) is the best answer as it covers all three main types of banks.

The Three Main Types of Banks Are