Question

types of banks
introduction: match the type of bank to the phrase that best describes it.
commercial bank

savings and loan

credit union

retail bank

is owned by its members

specializes in serving individuals for profit

specializes in helping homeowners

specializes in serving large businesses

Explanation:

1. Commercial banks focus on providing financial services to large businesses and corporations.
2. Savings and loan institutions (thrifts) primarily assist with home loans and homeowner-focused financial services.
3. Credit unions are member-owned, not-for-profit financial cooperatives.
4. Retail banks offer services directly to individual consumers for personal financial needs.

Answer:

• commercial bank → specializes in serving large businesses
• savings and loan → specializes in helping homeowners
• credit union → is owned by its members
• retail bank → specializes in serving individuals for profit