Banking

Who insures deposits at Manitoba Credit Unions?

What would be considered a reasonable interest rate on a savings account?

The maximum amount insured by the Canada Deposit Insurance Corporation (CDIC).

Banks fall under ____ legislation whereas credit unions fall under ___ legislation

A financial institution that connects buyers and sellers of stocks and other securities.

A written agreement that orders your bank to pay out a sum of money to a specific person or organization

A not-for-profit cooperative that is democratically controlled by its members.

Which of the following is an example of a payday loan company?

An agreement between you and your bank that allows you to withdraw more money than what you have in your account.

An example of a credit union in Manitoba.

There is generally a fee for using an out-of-network ATM.

A benefit of a bank vs. a credit union.

Which of the following is a cheaper alternative to a payday loan?

The annual percentage paid on deposits in a bank account.

The banking term to describe funds going out of your account.

An account balance is too low to cover a debit card purchase or cheque payment.

A cheque that is drawn on a bank's funds and guaranteed by the bank that issues it.