Local Banks in Smeaton VIC

Types of financial institutions

There are many different types of financial institutions that make the financial system flow. We’ve collected some of the major categories of banking institutions for your interest.

• Commercial banks provide deposits, debit cards, investment loans and serve as a payment agent via cards and cheques. These are the main companies you’ll deal with for individual and business finances.
• Investment banks perform a variety of services including underwriting debt and equity offerings, acting as an intermediary between an issuer of securities and the investing public, making markets, facilitating mergers and other corporate reorganizations, and acting as a broker for institutional clients.
• Credit unions are an alternative financial lending institution that is usually non-for-profit co-operatives. They typically offer better rates than commercial banks.
• Shadow banks may be investment banks, hedge funds or other non-bank financial institutions that do banking work but aren’t regulated. Many were forced out of business in the 2008 Global Financial Crisis.

Getting a loan from the right local financial institution could save you lots. Request a booking from a bank near you!