Financial institutions are organizations that provide various services related to money management. They include banks, credit unions, insurance companies, and investment firms. These institutions help individuals and businesses save, borrow, and invest money, facilitating economic growth and stability. These institutions play a crucial role in the economy by offering services such as loans, savings accounts, and investment opportunities. They also help manage risks through insurance products. By acting as intermediaries between savers and borrowers, financial institutions ensure that funds are allocated efficiently, supporting both personal financial goals and broader economic development.