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Chapter 5, Problem 1RQ
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To discuss: The types of depository institutions

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Commercial banks accept deposits in savings and checking accounts. The bank makes loans to both personal and commercial clients.

Savings institutions accept deposits but the primary focus of these institutions is to provide personal loans and mortgage loans to individuals rather than clients in commercial banks.

Credit unions (non-profit organizations) accept deposits and provide mortgage and personal loans only to members who have a common affiliation such as the same community or the same employer.

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