Yes individul makes an institution is correct.
Because the bellow example is very suitable
Financial institutions provide service as intermediaries of financial
markets. They are responsible for transferring funds from investors to
companies in need of those funds. Financial institutions facilitate
the flow of money through the economy. To do so, savings arisk brought
to provide funds for loans. Such is the primary means for depository
institutions to develop revenue. Should the yield curve become
inverse, firms in this arena will offer additional fee-generating
services including securities underwriting, and pre. so individul makes an institution is only correct