Answer:
Retail bank specializes in serving individuals for profit
Credit union is owned by its members
Savings and loan specializes in helping homeowners
Commercial bank specializes in serving large business
The correct definitions are explained below.
Given, here is 4 types of bank. retail bank , credit union , savings and loan
and commercial bank.
We have to match the type of bank to the suitable phrase that best describes it.
Retail Bank or Retail banking, also known as consumer banking or personal banking, is banking that provides financial services to individual consumers rather than businesses.
credit union is a type of financial institution similar to a commercial bank, is a member-owned financial cooperative, controlled by its members and operated on a not-for-profit basis. Credit unions generally provide services to members similar to retail banks, including deposit accounts, provision of credit, and other financial services.
A savings and loan association (S&L), or thrift institution, is a financial institution that specializes in accepting savings deposits and making mortgage and other loans.
commercial bank refers to a financial institution that accepts deposits, offers checking account services, makes various loans, and offers basic financial products.
From the above definitions we can match the phrase.
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