Bank of England - This has responsibility for maintaining a healthy level of financial stability for the UK as a whole. Responsibilities include issuing legal tender, setting interest rates and controlling the national debt., Banks - This is an organisation that handles financial transactions and stores money on behalf of its customers. Services offered will include holding deposits, making payments when instructed to do so and supplying credit., Building societies - These are organisations that handle financial transactions and store money on behalf of their members. The members, or account holders, are part owners and have a right to vote and receive information on the running of the organisation. They do not have shareholders on a stock exchange which allows costs to be kept down., Credit unions - These are not for profit organisations that handle financial transactions and store money on behalf of their members. Often there is a responsibility or desire to support a community made up of its members. Members are the owners and have a voting right., National Savings and Investments - This is a government backed organisation that offers a secure saving option. It offers a wide range of options including ISAs, premium bonds and gilts and bonds., Insurance companies - These are businesses that protect against the risk of loss in return for a premium. They are profit making organisations., Pension companies - These are businesses that sell policies to individuals, either privately or through employers, to allow them to save now to fund retirement in the future. These companies normally invest the money paid to them in contributions in order to increase its value. However, this is not risk free., Pawnbrokers - These are businesses or individuals who loan money against the security of a personal asset, for example an item of jewellery. If the item is not bought back within a specified period of time then it will be sold on., Payday loans - These are organisations that offer a short term source of finance used to bridge the gap between now and next receiving a wage. They are normally only available for relatively small amounts at very high rates. They may be suitable in an emergency to meet cash shortages.,


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