PFL & Eco Unit #4 Exam Review

Not having a checking, savings or money market account

• Unbanked

• Brick-and-mortar bank

• Digital bank

• Credit union

Has physical locations

• Unbanked

• Brick-and-mortar bank

• Digital bank

• Credit union

Delivers products and services remotely through electronic channels

• Unbanked

• Brick-and-mortar bank

• Digital bank

• Credit union

A nonprofit depository institution that is owned by members

• Unbanked

• Brick-and-mortar bank

• Digital bank

• Credit union

A fee for the use of money over time or money earned on a savings account

• Interest

• Interest rate

• Loan

The percentage charged for a loan or the percentage paid on a savings account

• Interest

• Interest rate

• Loan

A sum of money lent at interest

• Interest

• Interest rate

• Loan

Deposit money into a bank

• Savers

• Borrowers

Get loans from a bank

• Savers

• Borrowers

Having some form of checking, savings or money market account

• Fully banked

• Underbanked