COMMERCE 1B03 Lecture Notes - Commercial Bank, Commercial Finance, Financial Institution
28 Apr 2013
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Document Summary
Credit unions non-profit, member-owned financial co-operatives that offer a full variety of banking services to their members. trust company a financial institution that can administer estates, pension plans, and agency contracts, in addition to other activities conducted by banks. There are also a variety of other institutions that traditionally have been called non-banks. Non-banks are financial organizations that accept no deposits but offer many services provided by regular banks. Examples include pension funds, insurance companies, commercial finance companies, consumer finance companies, and brokerage houses. According to this same agency, the financial services sector plays an important role in the. Canadian economy, as it: employs more than 600,000 canadians. Provides a yearly payroll of more than billion: represents 6 percent of canada"s gdp, exceeded only by the manufacturing sector, yields more than billion in tax revenue to all levels of government. Is widely recognized as one of the safest and healthiest in the world2.
