1. Depository Institutions
Financial Services

2. 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

3. Commercial Banks For-profit businesses
Offer services to consumers and other businesses
Chase bank
Bank of Colorado
Wells Fargo
Capitol One

4. Credit Unions Owned by their customers, called members
Membership qualification
ENT
Aventa
Navy Federal

5. Services offered
Transaction & Savings tools
Credit
Financial Advice
Safe-deposit box
Special Payment needs

6. Checking account Quick access to funds Checks Debit card Withdraw cash
Usually no interest

7. Savings account Money NOT for daily use
Typically costs to withdraw money
Usually no withdrawal limit

8. Interest
Price paid for using someone else’s money

9. Credit Borrowing money with promise to pay in back Credit cards
Set time to repay

10. Safe-Deposit Box Secured box at bank/credit union
Store important valuables
Jewels
Important Documents
Secrets

11. Special payment needs Traveler’s Check Certified Check Cashiers Check
House down payment
1st car
Big purchases

12. 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

13. Overdraft Fee
Fee charged if you withdraw more money than you have

14. ATM Fee
Charge to remove money from ATM

15. Minimum balance fee
Charge for having less than minimum require amount of monety

16. Choosing a bank/credit union
Fees
Location
Insurance
Services
Interest rates
Loans
Features