Financial Institutions
An institution that provides financial services.
What is a bank or credit union?
A financial product that allows you to withdraw and deposit funds among other financial transactions.
What is a bank account?
Name the most common card types listed in the presentation
What are:
Debit cards
Prepaid cards
Credit cards
An investment account that you put money into for future use (months or years down the line)
HINT: you will receive a penalty if you withdraw early
What is a Certificate of Deposit?
Knowledge that is necessary to make important financial decisions
What is financial literacy?
This financial institution has the initials WF
What is Wells Fargo?
List the two most popular accounts at financial institutions
What are checking and savings accounts?
A payment card that draws money from your checking account
What is a debit card?
This type of retirement account is usually provided by employers
What is a 401k?
Identify at least one place where you can store your money
With family
Banks
Savings Accounts
Investment Accounts
Pre-loaded cards
Safe deposit box
This type of financial institution typically has higher interest rates and fees.
What is a bank?
This financial institution typically provides free checking accounts
What is a credit union?
Money that is pre-loaded onto a card
What is a prepaid card?
This savings account is meant for education expenses
What is a 529 Plan?
To avoid additional fees, you must have a ... in your account
What is a minimum balance?
Is a non-profit financial institution
What is a credit union?
When you have insufficient funds in your account and your financial institution covers it.
HINT: You have to pay this back
What is overdraft protection?
These types of cards lend you money that you have to pay back with interest
What are credit cards?
This retirement account allows you to make contributions to it after taxes versus the other retirement account allows you to make contributions but it is taxable
What is a ROTH vs. Traditional IRA account?
Another savings investment that incurs interest over time
HINT: U.S. Treasury
What is a U.S. Savings Bond?
Based on the presentation:
California Coast Credit Union
Navy Federal Credit Union
SDCCU
Mission Federal Credit Union
Bank of America
Wells Fargo
CHASE
What are some banks and credit unions in San Diego?
Places where you can withdraw and deposit funds
What are ATM locations?
A loan lent out and must be paid back with interest by your next check
What is a payday loan?
List an additional investment account type
What are:
CD's
IRA's
MMA's
U.S. Savings Bonds
529 Plans
Most banks/credit unions are covered by this ... in the event of bank failure and/or theft
What is FDIC insured?
Federal Deposit Insurance Corporation