Banking and Financial Institutions

an organization that provides services related to money

• commercial bank

• charter

• financial institution

Examples of these types of banks are Wells Fargo, Chase, and Regions

• commercial banks

• credit unions

• charters

license authorizing a bank to operate usually called national banks

• charter

• FDIC

• Savings and Loans association

an independent agency created by the federal government to protect bank customers by insuring their deposits

• Federal Deposit Insurance Corporation

• Financial Depository Insurance Company

• Financial Department of Insurance Corporation

Two types includes mutual savings and loan associations and stock savings and loans association

• credit unions

• savings and loans associations

• commercial banks

a non profit financial cooperative owned by and operated for the benefit of its members; services offered only to its members

• credit union

• commercial bank

• savings and loans associations

the movement of money electronically from one financial institution to another

• electronic funds transfer

• electronic financial transitioning

• automated teller machine

service offered by most banks and credit unions that requires a Personal Identification Number (PIN) to check account balances, make cash withdrawals and deposits, and move money from one account to another.

• electronic funds tranfer

• electronic financial transitioning

• automated teller machine

also called a check card, allows you to make purchases by swiping your card through a point of sale(POS) terminal that is usually located at the merchant’s checkout counter

• debit card

• credit card

• ATM card

a card issued by a bank that allows the holder to check account balances, withdraw and deposit cash, and transfer money from one account to another using an ATM

• ATM card

• debit card

• credit card