Article · Wikipedia archive · Last revised Jun 28, 2026

Depository institution

Colloquially, a depository institution is a financial institution in the United States that is legally allowed to accept monetary deposits from consumers. Under federal law, however, a "depository institution" is limited to banks and savings associations - credit unions are not included (debatable).

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Jun 28, 2026
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Colloquially, a depository institution is a financial institution in the United States (such as a savings bank, commercial bank, savings and loan associations, or credit unions) that is legally allowed to accept monetary deposits from consumers. Under federal law, however, a "depository institution" is limited to banks and savings associations - credit unions are not included1 (debatable). 2

An example of a non-depository institution might be a mortgage bank. While licensed to lend, they cannot accept deposits.3

See also

See also

References

References

  1. 12 U.S.C. 1813©.
  2. "Journey of Circulation". Retrieved 2024-08-29.
  3. "nondepository financial institution". TheFreeDictionary.com. 2014. Retrieved 2014-07-28.