What is another word for financial institution?
Pronunciation: [fa͡ɪnˈanʃə͡l ˌɪnstɪtjˈuːʃən] (IPA) 
Financial institution is a term often used to describe a broad range of entities that provide financial products and services to individuals and businesses alike. However, there are many synonyms of this phrase that can be used to describe these institutions more accurately. For example, a "bank" is a type of financial institution that focuses on holding deposits and making loans. "Credit unions" are institutions that are member-owned and offer similar services to banks. "Investment firms" manage portfolios for individuals and institutions, while "insurance companies" provide risk management services. "Mortgage lenders" specialize in providing loans for real estate purchases, while "brokerage firms" facilitate buying and selling securities. With these varied synonyms, there's no shortage of ways to describe the vast ecosystem of financial institutions.
