Depository Financial Institution (Noun)
Meaning
A financial institution that accepts deposits and channels the money into lending activities; "he cashed a check at the bank"; "that bank holds the mortgage on my home".
Classification
Nouns denoting groupings of people or objects.
Examples
- The bank is a depository financial institution that provides loans to small businesses and individuals.
- She visited the depository financial institution to deposit her paycheck and pay her bills.
- The government regulates depository financial institutions to ensure their stability and security.
- He chose to invest his savings in a depository financial institution that offered high-yield certificates of deposit.
- The depository financial institution where she worked offered a range of financial services, including checking and savings accounts.