Final answer:
Financial service providers like banks and credit unions help manage and protect money through services like savings and checking accounts, loans, and investments, backed by government agencies for added protection.
Step-by-step explanation:
A financial service provider, such as a bank or credit union, can help you manage and protect your money in several ways. They offer various services such as savings and checking accounts, loans, and investment options. Banks and credit unions allow you to safely store your money in a secure location, while also providing assistance with budgeting, financial planning, and risk management.
For example, banks may offer free checking accounts to students, and both credit unions and banks are backed by government agencies like the National Credit Union Administration (NCUA) and the Federal Deposit Insurance Corporation (FDIC), which protect savings accounts up to $100,000.