Are Credit Unions Better Than Big Banks?

What year did Wells Fargo admit to creating millions of fake accounts?

• 2012

• 2018

• 2016

• 2014

Which are TWO ADVANTAGES of having an account at a local community bank versus a national bank? 

• • Community banks are typically larger and more well-known than national banks. 

• Community banks typically have LOWER fees and charges when compared to a national bank.

• Community banks typically have HIGHER fees and charges when compared to a national bank. 

• Community banks typically give back and support the local community. 

What is a common feature of online-based banks?

• Fee-free ATMs at select locations

• Physical branches

• High fees

• Minimum account balances

​ (a)   When you deposit your money at a community or online bank, your money is insured by the FDIC up to $250,000.​

• FALSE

• TRUE

What questions should you ask before opening an account at a national bank, community bank, or credit union? (choose all correct answers) 

• What type of fees are associated with this account? 

• Social media followers, shoe size, childhood nickname

  • Is there a fee for using an ATM? If so, how much? 

• Is there a minimum balance requirement with this account?

• Do you offer online banking or mobile banking?