General
This not-for-profit financial cooperation is owned by its members rather than shareholders
What is a credit union.
What does ATM stand for?
automated teller machine
This type of credit involves buying a home
What is a Mortgage
All financial institutions are closed on these days
What are Federal Holidays
This insurance protects member deposits at federally insured credit unions up to $250,000
What is the NCUA (National Credit Union Administration)
Money is automatically put into your checking or savings account without having to visit a branch
What is direct deposit.
This three-digit number represents your creditworthiness.
What is a credit score
This governing body, elected by members, oversees the strategic direction of a credit union
What is the Board of Directors.
Written, dated, and signed paper form of money. Sort of an IOU.
What is a check
Money that the financial institution allows you to borrow. Must be paid back and typically with interest.
A loan
This key focus area helps individuals understand banking and money management
What is Financial Literacy
Name 1 job you could have at a bank
What is Bank teller, Manager, Accountant, IT, Compliance Analyst, etc.
payment card that deducts money directly from a checking account
What is a debit card
A financial tool that allows purchases now with payment due later.
What is a Credit Card
loan that exists in case you overdraw your checking account
What is overdraft protection
Credit Unions typically offer lower rates on this type of financial product compared to banks
What are loans
Banks have customers, but credit unions have these
What are Members
This ratio compares your total debt to your available credit.
What is credit utilization
Credit Unions aim to serve members rather than maximize this
What is profit