What is the term for an organization that offers financial services to individuals and businesses?

The term "Financial Institution" refers to an organization that provides various financial services to individuals and businesses, which can include banking services, loans, investment products, and more. Financial institutions serve as intermediaries in the financial system, allowing people and businesses to manage their money, save, borrow, and invest. They can take many forms, including banks, credit unions, insurance companies, and investment firms.

While specific organizations like investment firms, loan agencies, and credit unions all fall under the broader category of financial institutions, they represent particular aspects of financial services. An investment firm primarily focuses on managing investments, a loan agency specializes in providing loans, and a credit union is member-owned and serves its members with specific financial products. However, “Financial Institution” encompasses all of these kinds of organizations, making it the most accurate and inclusive term in the context of financial services.