Has been accepted to a university 3 hours from home

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Depository Institutions

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Introduction to Depository Institutions

Introduction to Depository Institutions

Introduction to Depository Institutions

Introduction to Depository Institutions

Introduction to Depository Institutions

Introduction to Depository Institutions

It’s just as exciting as you think!

Introduction to Depository Institutions

Introduction to Depository Institutions

Introduction to Depository Institutions

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Introduction to Depository Institutions

Introduction to Depository Institutions

Introduction to Depository Institutions

Introduction to Depository Institutions

Introduction to Depository Institutions

Introduction to Depository Institutions

Introduction to Depository Institutions

Introduction to Depository Institutions

Introduction to Depository Institutions

Introduction to Depository Institutions

Introduction to Depository Institutions

Introduction to Depository Institutions

Introduction to Depository Institutions

Introduction to Depository Institutions

Introduction to Depository Institutions

Introduction to Depository Institutions

Introduction to Depository Institutions

Introduction to Depository Institutions

Introduction to Depository Institutions

Introduction to Depository Institutions

Introduction to Depository Institutions

Presentation transcript:

Has been accepted to a university 3 hours from home Meet Josie Senior in high school Has been accepted to a university 3 hours from home Making important decisions about her future, especially regarding money Looking for a safe place to store her money and pay her bills while at college

Help Josie manage her money by choosing a depository institution Found two depository institutions in her hometown that also have branches near her college She has summarized their information on the “Josie’s Depository Institution Comparison Chart” Your mission: Learn more about Josie and depository institutions to help her make the best choice

Josie - What type of depository institutions has she chosen? Is Option 1 a bank or credit union? Why? Bank! Open to anyone Is Option 2 a bank or credit union? Why? Credit Union! Membership requirements

Josie How did location influence Josie’s selection of her top two depository institutions? She selected locations in her hometown and near her college

Are Josie’s choices insured? While watching the news today, Josie saw that a local depository institution is closing. Now that she understands the importance of depository institution insurance, she wants to ensure her choices are insured. Are Josie’s choices insured? Option 1 Option 2 Yes, by FDIC Yes, by NCUA

Josie Josie is looking for a checking account that is linked to a savings account This will allow her to transfer money from her checking account to her savings account when needed Why would this feature be beneficial? Does option 1 have this ability? Does option 2 have this ability? Yes - linked savings account Yes – linked savings account

Which checking account should Josie choose? Learn more about Josie to help her choose depository institution 1 or 2

What did you learn about Josie? Will be traveling often to neighboring states Has over drafted her account in the past Has several bills to pay every month Owns a smartphone Make sure she can avoid all fees with proper account management Would like a quick way to check her account balances Would prefer no minimum balance requirements Would like to earn interest on her deposits Which checking account would you recommend Josie choose - option 1 or 2? Why?