L3 Financial Institutions Financial Football

Poll

How many of you have an account with a financial institution like a bank or credit union (checking or savings)?

• Yes, I have a checking or savings account.

• No, I do not have a checking or savings account.

Multiple Choice

I am a nonprofit money cooperative whose members can borrow from pooled deposits at low interest rates.

What am I?

• Bank

• Credit Union

• Both

Multiple Choice

I am a for-profit public company owned by shareholders who have purchased company stock.

What am I?

• Bank

• Credit Union

• Both

Multiple Choice

I am insured by the NCUA.

What am I?

• Bank

• Credit Union

• Both

Multiple Choice

I am insured by the FDIC.

What am I?

• Bank

• Credit Union

• Both

Multiple Choice

I am where you can go to open a checking or savings account.

What am I?

• Bank

• Credit Union

• Both

Multiple Choice

Banks generally provide what kinds of services?

• Deposit accounts and loans

• Insurance services

• Tax advice

• All of the above

Multiple Choice

A key difference between credit unions and banks is:

• Banks usually pay higher interest on savings accounts

• Credit unions are usually member-owned

• Bank debit cards are more widely accepted

• All of the above

Multiple Choice

A single fund account is insured by the Federal Deposit Insurance Corporation (FDIC) for up to how much?

• $1,000,000

• $500,000

• $250,000

• $150,000

Multiple Choice

What types of fees do financial institutions charge?

• Mortgage loan fee

• Overdraft fee

• Late payment fee

• All of the above

Multiple Choice

If you want to switch financial institutions:

• Compare services at other banks and credit unions first

• Compare fees at other banks and credit unions first

• Consider the location and convenience of other banks and credit unions first

• All of the above