chapter 25

Created by reijos 

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comercial bank

full service bank

federal deposit insurance corporation

a federally sponsored corporation that insures accounts in national banks and other qualified institutions

FDIC

a federally sponsored corporation that insures accounts in national banks and other qualified institutions

savings and loan association

a thrift institution that is required by law to make a certain percentage of its loans as home mortgages

mutual savings bank

a state-chartered savings bank owned by its depositors and managed by a board of trustees

credit union

a cooperative depository financial institution whose members can obtain loans from their combined savings

consumer finance company

a finance company that makes loans to people who have trouble getting a bank loan

interest

a diversion that occupies one's time and thoughts (usually pleasantly)

electronic funds transfer

a computerized cash payments system that transfers funds without the use of checks, currency, or other paper documents

safe deposite box

small storage compartmentthat you can rent in a bank

investments

In finance, the purchase of a financial product or other item of value with an expectation of favorable future returns. In general terms, investment means the use money in the hope of making more money.

trust companies

businesses that manage people's money and property for them.

federal reserve system

the central bank of the United States

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