Private Financial Institutions

Banks are businesses that keep and lend money

• True

• False

When Banks keep your money in a savings account

• They pay you interest

• You pay them interest

When Banks LOAN you money for things

• They pay you interest

• You pay them interest

Interest is a fee paid for the use of someone else's money

• True

• False

Hint: when you save money with a bank you get

• Interest payments

• Dividend payments

• Bonus

• Salary

A Financial institution that mostly deals with savings and home loans

• Savings and Loan

• Credit Union

A financial institution that is created by a group or union (Teachers, Plumbers)

• Credit Union

• Securities Brokerage

A financial institution that helps consumers buy and sell stocks

• Credit Union

• Securities Brokerage