For profit business; offers numerous financial services; usually the largest depository institutions.

Not-for-profit, owned by members, offer many services, often able to pay higher interest rates and charge lower fees.

Businesses that provide financial services.

The amount of money charge when money is borrowed by the consumer. Calculated by a percentage rate, usually annual percentage rate (APR).

Complete certain transactions from a secured Internet site. Access account information any place, transfer money, pay bills/set up recurring bill payment, and apply for credit.

Provides quick access to funds for transactions. Used to write checks, debt cards, withdrawing cash, electronically transferring money.

Transactions completed with no physical connection between the payment device and Point-of-Sale (POS) device or store clerk. Wave card in front of the sensor for fast and easy transactions.

Plastic card that is electronically connected to the cardholder’s depository institution account.

The price paid for using someone else’s money.

Apps depository institutions have developed that allow online banking access from smartphones, tablets, and other mobile devices.

Account for money not intended to be used for daily expenses. Access to money is more limited than a checking account. Earns interest on money deposited into account.

Accounts that help you manage your money. May or may not earn interest. Two most common accounts are Checking Accounts and Savings Accounts.