3. Depository Institutions
About this set
Created by:
krisisi on May 14, 2012
Subjects:
Description:
Depository Institutions
Classes:
Winemiller Personal Finance Block 2, PF Practice
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11 terms
Terms | Definitions |
|---|---|
 Full-service institutions because they offer a wide variety of services. | Commercial Bank |
| A term used to determine which party should be responsbile for damage occurring to products after a service transaction has been completed,but prior to delivery. | Risk of Loss |
| The amount of money that is either gained orlost when accessing services offered by a depository institution. | Interest |
| These are non-profit cooperative institutions owned by their members. | Credit Union |
| The percentage used annually to calculate the total interest either gained or lost from an account supplied by a depository institution. | Interest Rate |
| Business which offers multiple services in banking and finance. | Depository Institution |
| Part of the central banking system in the United States. | Federal Reserve Bank |
| Primary focus is providing loans and mortgages to customers. | Savings and Loan Association |
| Another name for a checking account. | Share draft |
| Information and advice given to customers to help them make financial decisions. | Financial counseling |
| A commitment of money through lending money to a business or the government to achieve long-term financial goals by earning interest. | Investing |
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