A financial institution may issue many different kinds of loans. A credit unions' primary function is to serve its members. When looking for a loan, most people visit several financial institutions to see what interest rate each is charging for a loan. Remember, financial institutions make a profit by loaning people money for a fee. Many times interest rates may differ, so it's wise to shop around first.
Financial institutions serve many types of clients.
They serve families, individuals, small companies and large companies, even governments. A family's financial needs may differ from what a large company would need. To respond better to a particular group's needs, a financial institution may specialize in one or more areas. Knowing what area a financial institution specializes in can help you find the best financial institution for your needs. Discuss what kinds of financial institution services you feel you might need now and in the future.