Intro to Depository Institutions

A federal government agency that insures depository institutions.

Depository institutions DO NOT accept deposits from consumers.

For-profit depository business that offers financial services to consumers and other businesses

Credit unions are able to pay higher interest rates on deposits.

The safety of deposits is often guaranteed by the government.

A machine that allows individuals to complete certain transactions without human assistance.

For money that you don't intend to use for daily expenses.

Provides insurance protection for credit unions.

Which of the following is a special needs instrument.

Secured box at a depository institution that you use to store valuable personal items.

Valuable services that depository institutions offer includes:

Allows customers to complete certain transactions from a secured internet site.

If you go below a minimum balance in your account you will be charged this fee.

Allows you quick access to funds for transactions.

What you should look for when choosing a depository institution.

Allow customers easy access to money in their savings and checking accounts through an ATM.

Depository institution that offers many banking services, owned by customers

Each depositor is insured against loss up to a max of $_______.

The price paid for using someone else's money.

When you borrow money and have to pay interest, look for low interest rates.

A fee charged if you withdraw more money from your account than is available.

If you want to earn interest of your deposits, look for low interest rates.

The standard insurance amount is $______ per depositor.

Allow you to borrow money from the financial institution with your promise to repay later.

Which of the following is an example of a depository institution?