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10 Cards in this Set
- Front
- Back
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Commercial Bank
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A bank that offers a full range of services.
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Savings & Loan Association
(S&L) |
A financial institution that specializes in savings accounts and making loans for buying homes.
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Mutual Savings Banks
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A bank owned by the depositors that handles saving accounts, makes home loans and distributes the profits to the depositors.
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Credit Unions
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A not-for-profit financial institution formed by people who have like or similar occupations or live in the same community.
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Federal Deposit Insurance Corporation (FDIC)
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A federal agency that protects depositors money in case of the failure of a bank.
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Federal Reserve System
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A nationwide banking plan set up by our federal government to supervise and regulate member banks. (A bank's bank)
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Interest
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An amount paid for the use of money.
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Trust Companies
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Financial institutions that specialize in managing the money and property of others.
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Electronic Funds Tranfer
(EFT) |
A system through which funds are moved electronically from one account to another and from one bank to another.
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Investments
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Savings that are put to work to earn more money.
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