Depository Institutions Financial Services
Bingo Terms Profit - Cash - Birth certificate - Second Loss - Weekly - Movies - Numbers Team - Daily - Music - Letters Member - Loan - Car - Location Box - Debt - Bike - Borrowing Chest - Will - Apartment - Stealing Saving - Live - Condo - Secret Spending - Die - House - Truth Charge - Born - First - Blackmail
Commercial Banks For-profit businesses Offer services to consumers and other businesses Chase bank Bank of Colorado Wells Fargo Capitol One
Credit Unions Owned by their customers, called members Membership qualification ENT Aventa Navy Federal
Services offered Transaction & Savings tools Credit Financial Advice Safe-deposit box Special Payment needs
Checking account Quick access to funds Checks Debit card Withdraw cash Usually no interest
Savings account Money NOT for daily use Typically costs to withdraw money Usually no withdrawal limit
Interest Price paid for using someone else’s money
Credit Borrowing money with promise to pay in back Credit cards Set time to repay
Safe-Deposit Box Secured box at bank/credit union Store important valuables Jewels Important Documents Secrets
Special payment needs Traveler’s Check Certified Check Cashiers Check House down payment 1st car Big purchases
Credit/Debit Card Credit Debit Borrowing money Not connected directly to account Debit cards run as credit will not overdraft Debit connected to your checking account Use of PIN overdraft
Overdraft Fee Fee charged if you withdraw more money than you have
ATM Fee Charge to remove money from ATM
Minimum balance fee Charge for having less than minimum require amount of monety
Choosing a bank/credit union Fees Location Insurance Services Interest rates Loans Features