Banks VS Credit Unions
Banks are owned by
What is Share Holders
The account used for point of sale transactions
what is Chequing Account
When Lenders look at this they look at Moral Traits, management and ethical standards?
What is character
What is the formula for budgeting
What is Income - Expense
What does RRSP stand for?
What is Registered Retirement Savings Plan
Credit Unions are owned by?
What is Members?
I am used for long term savings
What is Registered accounts
The conditions of the loan, such as its interest rate and amount of principal
What is Conditions
an estimate of income and expenses for a set period of time; a financial forecast
What is a Budget
What should you keep after an E-transfer or Bill payment until you know transaction is done?
What is Confirmation number
Banks are driven by?
What is Profits
This account may have an additional fee if withdrawn from at a ATM
What is Savings account
Ability of borrower to repay loan while making all of other monthly commitments & living expenses
Capacity
what percent do you use for needs, Wants, and Savings
what is 50-30-20
What is remote/deposit capture?
What is a way to deposit a cheque by taking a picture on your phone
Who makes the Decisions in Credit Unions?
What is Staff/Board
I am an alternative to cash and used to make purchases
what is a Debit Card
Refers to net worth, which is all your assets minus liabilities
What is Capital
Name two source of income
Job, Allowance, gifts Profit from sale
What does it mean for a cheque to "Bounce"
What is account has insufficient funds- not enough money in account to pay
Who makes decisions in Banks
What is Corporate office
What are the three different types of accounts
what is chequing, savings and Registered.
Security pledged to support your promise to pay
What is Collateral
who can help you make a budget?
what is a financial Planner
What should you do if you get an email requesting personal information?
What is Check online or call your FI