241 Outcome: Financial Institutions
What you’ll learn to do: describe the differences between the types of financial institutions including banks, credit unions, finance companies, and securities markets
Not all financial institutions serve the same purposes, customers, or functions within the U.S. Monetary System. Understanding the differences between the various financial institutions will provide you with a glimpse into the bigger picture beyond your own local bank or ATM. These financial institutions serve as the intermediaries between the savers and the borrowers. Imagine if you had to drive to the nearest Federal Reserve bank to get $20 in cash to go to the movies on Saturday night? Not nearly as efficient as the network of institutions that comprise our banking system!
Learning Activities
The learning activities for this section include:
- Reading: Financial Institutions
- Self Check: Financial Institutions
Take time to review and reflect on this activity in order to improve your performance on the assessment for this section.