Money
Commercial Banks
Credit Unions
Alternate Names
Mystery Terms
100
Anything that can be used for payment of goods or services.
What is currency?
100
Relying mainly on checking and savings accounts as sources of funds for loans to business and individuals.
What is commercial banks?
100
A type of untraditional bank that is depositor owned.
What is a credit union?
100
Time deposits
What is savings account?
100
Looks like a credit card but works like a check.
What is debit card?
200
Acceptability, divisibility, portability, stability, and durability.
What is the characteristics of money?
200
Oldest and largest of all financial industries.
What is commercial banks?
200
Interests rates are lower or higher than commercial banks for the most part.
What is lower?
200
Demand deposit
What is checking accounts?
200
The study of money; how it's made; how it's lost; and how it's managed.
What is finance?
300
Employ buying power and provides a form of wealth.
What is the power to do what of two things?
300
Approximately 62% of adults use this method as their preferred banking method.
What is internet banking?
300
Considered nonbank financial institutions.
What is S&Ls?
300
Share account
What is savings account in a credit union?
300
An independent agency of the federal government established in 1913 to regulate the nation's banking and financial industry.
What is the federal reserve board?
400
Act as a medium of exchange, a measure of value, as well as a medium store of value.
What is three main functions of money?
400
S&L’s become more or less like commercial banks after rules of banks were changed in the 1980’s.
What is more?
400
Mutual savings banks, savings and loans, commercial banks, and credit unions.
What is the types of banks?
400
Share draft account
What is checking account in a credit union?
400
A specialist who assists in the issue and sale of new securities.
What is an investment banker?
500
Corporation controls the amount of currency in the United States.
What is the federal reserve?
500
Home equity loans, credit cards, and rental of safe deposit boxes in branch location.
What is the three services that are offered to customers?
500
Finance companies, brokerage firms, pension firms, and insurance companies.
What is nonbank financial institutions?
500
Thrifts
What is savings and loans associates?
500
The interest rate that the federal reserve charges to member banks.
What is a discount rate?
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