They Not Like Us. Banks Vs. Credit Unions.
True or False. A Credit Union is responsible for turning profits for its Wall Street investors.
What is False? Credit Unions are Not-For-Profit and are owned equally by their membership.
This type of deposit account limits your access to specific periods of time. It earns a higher interest rate than a typical savings account.
What is a Certificate of Deposit (CD)?
This tool is a "road map" to help you stay on track and control spending.
What is a Budget?
Complete this quote. "If it is too good to be true..."
What is "it is"?
True or False:
You cannot attempt to repair your credit score on your own.
What is false?
You can contact the credit reporting agencies and dispute trade lines so they will remove them from your credit report. An investigation into the legitimacy of the credit will be initiated with each attempt. The agencies can help you with this.
True or False. Each of your friends and family members could be worth $75
What is True? America's Credit Unions offers our members $75 for each friend or family member that you refer who opens an account with ACU. Free Money!
Many studies show that saving money can improve your health because it reduces this...
What is Stress?
These "advanced" mathematics, _________ and _______, are the types of computations you will use to make and track your budget.
What is simple addition and subtraction?
Multiplying percentages is a small part of the mathematics used.
How much more likely are older Americans to fall victim to cyber scams?
a) Age doesn't matter; everyone is at risk. b) 3 times more likely. c) less likely because older Americans do not often make purchases online.
What is b) 3 times more likely?
These monthly bills are credit because you pay for the services after you receive them.
What are Utilities?
America's Credit Union doesn't have _______ or ________ on their checking accounts.
What are fees or minimum balances?
Saving to purchase things you want or high-dollar items allows you to enjoy them without experiencing this....
What is guilt?
Housing and transportation are examples of this budgetary category.
What are Needs?
Gift cards, Cash-Apps, and Cryptocurrency should be considered as ________ when you trade with them.
What is cash?
This "C" is a percentage of your income compared to your monthly debts. It is known as the....
What is Debt-to-Income or DTI?
The employees of these two major companies started the credit union known today as America's Credit Union.
Who are the employees of Kraft American and Southwestern Bell?
This is a method for lowering your outflow by making you think before you buy. You should "cool off" for ____ days before making a purchase.
What is to delay a purchase for 30 days?
The Delied Purchase method allows you to "cool off" before you buy. If you still want it, you have had time to think about it before making the financial commitment.
The (blank) will help you give the cold shoulder to debt and help your savings grow.
What is the snowball effect?
In 2023, the percentage of adults who are considered digital consumers was: a) 95%, b) 82%, c) 71%
What is b) 82%?
True or False:
A down payment to purchase a car doesn't affect how much interest I pay.
What is False?
Putting money down reduces the amount financed. You pay less interest because the initial amount, the principal, is less.
Banks earn large profits and pay them to board members and stockholders. A Credit Union does this if it makes a profit.
a. They are reinvested in the institution or paid to members / b. They are paid to the stockholders / c. Nothing; there are no profits
What is a? They are reinvested in the institution or paid to members.
True or False. Having money in savings can help you follow your dreams, like starting a business.
True.
Having money in savings is Financial Security. It allows you to take calculated risks to increase your income.
Want or Need. I have an interview for a new job. Everyone dresses nicely, but I only have jeans and t-shirts. I should buy a suit for the interview.
What is a need?
This is a tricky one. Unless it was spelled out in the interview request, there is not "technically" a need here, but....
Making a good impression often means looking like you fit in. If everyone is wearing suits and dresses, a more formal style would be needed.
Name 2 red flags that will help you avoid scammers.
What is:
Spelling/Grammar errors, Urgent, Generic Greetings, Links do not match the company, Request for personal information, Too Good To Be True
Credit score repair services can increase your score, but you may not qualify for a loan because you have less ________.
What are trade lines?