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© 2008. Oklahoma State Department of Education, All rights reserved. 1 Standard 3. Finding Financial Services
Building Interest Building Interest Why are there so many types of financial institutions? How has technology affected the financial industry and its service offerings? What kind of financial services do you currently use? 2 © 2008. Oklahoma State Department of Education, All rights reserved.
Building Interest Building Interest What percentage of people in the U. S. have banking accounts of some type? What are some of the possible reasons people choose not to have a bank account? What is the difference between a bank and a credit union? 3 © 2008. Oklahoma State Department of Education, All rights reserved.
Financial Service Providers Financial Service Providers - Businesses providing services similar to banks. Banks, credit unions, credit card companies, insurance companies, stock brokerages, mortgage companies, and investment banks. Changes in customer needs and technology have increased the level of competition for gaining and retaining customers. 4 © 2008. Oklahoma State Department of Education, All rights reserved.
Choosing Financial Services Considerations should include: Fees Time Ability to access the services and your level of skills in using them 5 © 2008. Oklahoma State Department of Education, All rights reserved.
Progressive and Regressive Taxes Benefits of on-line banking: 24-hours a day access. Easy transfers of money between your checking and savings account. Electronic bill payments through the bank, saving you money on postage and envelopes. 6 © 2008. Oklahoma State Department of Education, All rights reserved.
Earnings Earnings Changes in technology and customer needs has caused the number of financial service providers to increase. Types of services offered have also increased. Being an informed consumer will help you find the types of services you want and need, while saving money in getting them. 7 © 2008. Oklahoma State Department of Education, All rights reserved.
Key Concepts Financial Institutions Functions of the Federal Reserve System.
Read to Learn Compare and contrast three types of banks that are found in our economy. Explain the major functions of the Federal Reserve System in the.
Introduction to Savings & Investments
Earning Money What is income and what are 3 possible sources? Income is money that you have available to you to spend 3 sources: babysitting,
Depository Institutions Take Charge of Your Finances.
Oklahoma’s Personal Financial Literacy Passport © Oklahoma State Department of Education. All rights reserved. 1 Teacher Presentation Series 4 Standard.
Personal Financial Management
Bank On It Personal Finance Unit. Why Learn About Banking?
How to Manage Your Cash › Daily Cash Needs Lunch, movies, gas, or paying for other activities Carry cash Go to an ATM Credit Card Know pros.
Banks & Other Financial Institutions Ch PoB 2011.
Finding Financial Services Review. A financial institution that provides compensation in case of a disaster or accident.
An electronic machine that bank customers and credit union members can use to withdraw cash and make other financial transactions.
Safety Security Convenience Cost Financial Future.
1.7.3.G1 © Family Economics & Financial Education – Revised March 2008 – Financial Institutions Unit – Depository Institutions Funded by a grant from Take.
FINANCIAL SERVICE PROVIDERS Bank : A business that sells services such as savings accounts, loans, and investments Regulated more strictly than most other.
Banking. What does the banker do? Banking Financial Institution permitted to – hold savings deposits – offer loans and mortgages – issue credit rating.
Chapter A bank is business just like a store or factory Sells services such as checking, and payment accounts, savings accounts, loans, and.
© The McGraw-Hill Companies, Inc., All Rights Reserved. Irwin/McGraw-Hill C HAPTER 5 Banking Services: Savings Plans and Payment Accounts 7e Personal.
Prentice-Hall, Inc.1 Chapter 5 Cash or Liquid Asset Management.
Oklahoma’s Personal Financial Literacy Passport
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