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13 Cards in this Set
- Front
- Back
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Commerical bank:
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A full-service financial institution that offers a variety of services.
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Saving and loan association:
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A financial institution that provides loans and mortgages to customers who hold a saving acount.
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Credit union:
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A nonprofit financial cooperative owned by its members.
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Brokerage firm:
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A licensed institution that specializes in investing.
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Insured financial institution:
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One that is insured---as by Federal Deposit Insurance Corporation (FDIC), Savings Association Insurance Fund (SAIF), or Natioanl Credit Union Administration (NCUA) to protect deposits of clients.
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Checking account:
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Paper checks or debit cards are used to withdraw money deposited into the account to pay for items.
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Savings account:
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Money is deposited into an account to earn interest.
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Retirement plan account:
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A plan for saving money for retirement; money tax-deferred until withdrawn.
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Share account:
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A savings account at a credit union.
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Share certificate account:
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A certificate of deposit at a credit union.
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Share draft account:
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A checking account at a credit union.
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Bond:
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An investment of money in a government or organization.
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Certificate of deposit:
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An insured interest-earning savings tool with restricted access to funds.
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