Banking and Types of Accounts

Front

The FDIC secures deposits up to

Back

$250,000

Front

The NCUA secures deposits up to

Back

$250,000

Front

What is a non profit financial cooperative owned by its members that provides credit and other financial services?

Back

Credit Unions

Front

Which is NOT a function of commercial bank? Options: Providing financial and tax planning advice, Providing insurance, Exchanging foreign currencies

Back

Print money

Front

Which of the following is the best reason for Mrs. Smith to deposit the money into an account at the bank?
Options:
The money is safer in the bank than at home.
She can withdraw her money at any time.
The bank is near her house.
She will receive a checkbook in her favorite color.

Back

The money is safer in the bank than at home.

Front

Owned by members or employees of a local employer

Back

Credit Union

Front

Offers the use of ATMs

Back

Both

Front

Offers Savings and Checking Accounts

Back

Both

Front

Caters services to businesses but also serves individual customers

Back

Bank

Front

Nonprofit: Bank, Credit Union, Both

Back

Credit Union