Which of the following statements about depository institutions in Canada are correct? Check all that apply. Most deposits at chartered banks are federally insured. Depository institutions include banks, savings and loan associations, and credit unions. The public does not have direct access to depository institutions. The customers of chartered banks are primarily looking to finance major consumer purchases.

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Financial Institutions and Federal Bank

The word financial institution is a kind of business organization that deals with the financial activities of a nation. These activities include accepting deposits, making payments, granting loans and advances, transferring funds, holding shares, providing credits, purchasing and selling foreign exchanges, investments in shares, futures commodities, and many more.