Financial Institutions

Payment made for the use of borrowed money is called

Who pays interest on a loan? Options: a lender, a borrower, a credit union, a creditor

Banks provide which of the following EXCEPT: debit cards, loans, check writing services, government subsidies?

A credit union...

Piece of ownership in a company, mutual fund or other investment

Persons or institutions to whom money is owed

Money added into a bank account.

Commercial banks earn money in all of the following ways EXCEPT: Investing in other companies, Charging fees for their services, Collecting interest on loans, Taking a percentage off of all deposits

Which financial institution comes with the most risk (highest interest/fees owed)? Options: Commercial Banks, Credit Unions, Payday Lenders, Title Pawn Lenders

Who owns a credit union?