Types of Financial Institutions in USA

United States being one of the most developed nation in the world. The financial market, particularly the banking practices in the country has experienced more competitive environment in the recent years.

Types of Financial Institutions in USA
Banks, credit unions, have the same basic services. Before choosing an institution, compare what each has to offer and pick the one that best serves your needs.
Banks: Banks in the USA are local, statewide or regional. The system may seem complicated if you are accustomed to large, national institutions. Banks are for-profit businesses and will charge a fee for services such as checking accounts, debit purchases and other conveniences. Make sure to get a listing of the fees banks charge before opening an account.…