Banks don’t really borrow from depositors[1]. That is a great description from an authoritative source. The US system is substantially the same. Having a banking license has huge advantages, namely being able to create money out of thin air and borrow at extremely low rates from the central bank. I don’t know if a Wyoming SPDI has those privileges or not though. Reading through the description[2] it looks like they do though.
[1] https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/m...
[2] http://wyomingbankingdivision.wyo.gov/home/areas-of-regulati...