Depositary financial institutions are:
Depositary financial institutions are financial institutions that gathers or obtains funds majorly by accepting deposits from members of the public. Depositary financial institutions include loan associations, credit unions and commercial bank.
Credit union is a form of financial institution owned by members of the union. The union provides financial services similar to the services provided by commercial banks
A commercial bank is a financial institution that accepts deposits from customers, provide loans to customers and provide financial products t costumers. Only commercial banks. deposit their excess funds with the U.S. Treasury.
A savings and loan associations is a financial institution that specializes in helping customers get residential mortgages.
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