Banking and Financial Literacy

Name?

What is a checking account?

• A type of savings account
• A type of credit card
• A type of bank account
• A type of loan

What is a credit union?

• OA government agency that regulates the banking industry
• A non-profit organization that provides financial services to the general public
• A type of bank that is owned and operated by its members
• A financial institution that offers banking services and products to its members

How are credit unions different from banks?

• Credit unions do not provide online banking services
• Credit unions are not regulated by the government
• Credit unions are owned by their members, while banks are owned by shareholders
• Credit unions do not offer loans or mortgages

Who can join a credit union?

• Only wealthy individuals
• Only members of the military
• Only people who live in a certain area or work for a specific company
• Anyone who has a job

What types of services do credit unions offer

• Only bank accounts and loans
• Only credit cards and financial planning
• Only loans and credit cards
• Bank accounts, loans, credit cards, and financial planning

What types of services do credit unions offer?

• What types of services do credit unions offer?
• Only bank accounts and loans
• Only credit cards and financial planning
• Only loans and credit cards
• Bank accounts, loans, credit cards, and financial planning

Are credit unions insured?

• Yes
• No
• Maybe

Are credit unions insured?

• Yes, by the Federal Deposit Insurance Corporation (FDIC)
• No, credit unions do not offer any insurance
• No, credit unions are self-insured
• Yes, by the National Credit Union Administration (NCUA)

How do credit unions make money?

• By investing their members' deposits
• By receiving government subsidies
• By selling products and services to the general public
• By charging high fees to their membersOption 1