1. Stock Market Analysis and Personal Finance Mr. Bernstein Sources of Consumer Credit, pp 154-161 April 1, 2015

2. Stock Market Analysis & Personal Finance Mr. Bernstein Sources of Consumer Credit Commercial Banks Consumer Finance Companies Credit Unions Savings and Loans (“Thrifts”) Life Insurance Companies 2

3. Stock Market Analysis & Personal Finance Mr. Bernstein Sources of Consumer Credit Commercial Banks Personal Loans Auto Loans or other Collaterialized Loans Credit Cards Consumer Finance Companies Credit Unions Savings and Loans (“Thrifts”) Life Insurance Companies 3

4. Stock Market Analysis & Personal Finance Mr. Bernstein Sources of Consumer Credit Commercial Banks Consumer Finance Companies Little Credit History Needed Will Loan up to 100% of purchase value Quick Approval Often Expensive Credit Unions Savings and Loans (“Thrifts”) Life Insurance Companies 4

5. Stock Market Analysis & Personal Finance Mr. Bernstein Sources of Consumer Credit Commercial Banks Consumer Finance Companies Credit Unions Members Only Payroll Deduction Plans possible Non-profit Savings and Loans (“Thrifts”) Life Insurance Companies 5

6. Stock Market Analysis & Personal Finance Mr. Bernstein Sources of Consumer Credit Commercial Banks Consumer Finance Companies Credit Unions Savings and Loans (“Thrifts”) Home Improvement Second Mortgage Loans (Home Equity Loans) At one time were considered local Real Estate experts Life Insurance Companies 6

7. Stock Market Analysis & Personal Finance Mr. Bernstein Sources of Consumer Credit Commercial Banks Consumer Finance Companies Credit Unions Savings and Loans (“Thrifts”) Life Insurance Companies Borrow against cash value of policy Balance outstanding deducted from death benefits 7

8. Stock Market Analysis & Personal Finance Mr. Bernstein Credit Cards “Collateralized Credit Card” builds credit rating Watch the “gotchas”: Grace period for late payment without finance fee Annual fee can be $50-$500 Transaction fees Know how payments can be made without delays High interest rates are common…so… Plan to pay your credit card balance every month 8