Introduction to Depository Institutions

Anyone can open an account here

• credit union

• commercial bank

• both

This institution offers financial services

• credit union

• bank

• both

This institution is owned by its members (customers)

• credit union

• bank

• both

This institution is in business to make money (a profit).

• credit union

• commercial bank

• both

You have to meet membership requirements in order to have an account here.

• credit union

• commercial bank

• both

What are benefits a depository institutions can provide?

• keeps money safe

• opportunity to earn interest

• helps manage money

• all of these

What are factors you won't consider when deciding which depository institution fits your needs?

• fees and location

• insurance and services offered

• free suckers and comfortable furniture

• interest rates and features offered

Depository institutions keep your money safe by doing ALL BUT the following:

• automatic bill payment

• insurance

• safes

• secure networks

This helps with day to day money management because funds may be accessed in a variety of ways.

• savings account

• checking account

• insurance

• interest

This stores money that will be used in the future.

• savings account

• checking account

• insurance

• money account