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6 Cards in this Set
- Front
- Back
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Commercial Bank |
A profit-seeking organization that receives deposits from individuals and corporations in the form of checking and savings accounts and then uses some of these funds to make loans. |
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Credit Union |
Nonprofit, member-owned financial cooperatives that offer a full variety of banking services to their members. |
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FDIC |
An independent agency of the U.S. government that insures bank deposits. |
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Non-banks |
Financial organizations that accept no deposits but offer many of the services provided by regular banks (pension funds, insurance companies, commercial finance companies, consumer finance companies, and brokerage houses.) |
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Pension Funds |
Amounts of money put side by corporations, nonprofit organizations, r unions to cover part of the financial needs of the members when they retire. |
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Savings and Loan Associations (S&Ls) |
A financial institution that accepts both savings and checking deposits and provides home mortgage loans. |
