SVTC - PF 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

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

A 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

Choose two answers.

Jeff wants to open a basic savings account. He should go to which two types of financial institutions to open the account.

• a financial services company

• a commercial bank

• an insurance company

• a trust company

• a credit union

Which financial institution is owned by its members?

• financial service company

• savings and loan association

• commercial bank

• credit union

Which financial institutions provides home mortgages?

• financial service company

• savings and loan association

• commercial bank

• credit union

Which financial institutions offers checking accounts?

• financial service company

• savings and loan association

• commercial bank

• credit union

Which two features does a basic savings account have?

• allows money

  transfers

• offers a higher

  interest rate

• allows ATM

  withdrawals

• has a maturity date