chapter 25
About this set
Created by:
reijos on April 5, 2011
Subjects:
banking, system and financial services
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13 terms
Terms | Definitions |
|---|---|
 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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