The financial definition for Depository institution:
A financial institution that obtains its funds mainly through deposits from the public. This includes commercial banks, savings and loan associations, savings banks and credit unions. Although historically they have broadened their powers in recent years. For example, NOW accounts, credit union share drafts and other services similar to checking accounts may be offered by thrift institutions.
Similar Matches
Depository Institutions Deregulation and Monetary Control Act
Financial institution An enterprise such as a bank whose primary business and function is to collect money from the public and invest it in financial assets such as stocks and bonds.