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Building societies

Building societies raise funds primarily by accepting deposits from households, provide loans (mainly mortgage finance for owner-occupied housing) and payment services. Traditionally mutually owned institutions, building societies increasingly are issuing share capital. Credit unions

Mutually owned institutions, credit unions provide deposit, personal/housing loan and payment services to members. http://rba.gov.au/FinancialSystemStability/FinancialInstitutionsInAustralia/the_main_types_of_financial_institutions_in_aus.html

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βˆ™ 14y ago
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βˆ™ 15y ago

Non banking financial institutions are companies that do not accept deposits or handle accounts like traditional banks but provide all other form of services like loans, share trading accounts, investment banking etc.

Since they are not banks but still provide financial services they are called NBFC's Non Banking financial Companies

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βˆ™ 9y ago

Non-banking financial institutions are organizations that offer financial services, but are not banks. Examples include insurance companies, finance companies, pawn brokers, and casinos.

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Q: What are Non-bank financial institution in Australia?
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