The other two banking institutions once focused on savings accounts and long-term loans but deregulation has caused them to expand their services. Credit unions limit their membership to people that have some commonality, e.g. people in a certain profession, people that live in a certain area, etc. Credit unions typically give members better rates than banks because unions are collectively owned by the depositors. Non-banking financial institutions don't offer deposits as such. Most specialize in loans or money management for their investors.
Examples are credit card companies, insurance companies, and pension funds.
Credit cards have become so lucrative that most banking institutions now feature them as a significant portion of their loan portfolios. With the rise of technology, electronic commerce has become quite common. In fact, ATM cards are now considered by some to be as liquid as demand deposit accounts. Electronic banking is also popular. Despite some fears about electronic banking and transaction security, the convenience of banking from home and Internet portfolio management are increasing popular.