| A | B |
|---|
| Deposit Type Institutions | Commerical banks, savings and loan associations, mutual savings banks, credit unions |
| Non-Deposit Type Institutions | Life insurance companies, investment companies, mortgage companies, pawnshops |
| The type of services they offer | Financial institutions are usually classified by what? |
| Commerical Banks | Often called full-service banks b/c they offer a wide range of financial services |
| Federal Deposit Insurance Corporation | FDIC |
| Federal Deposit Insurance Corporation | A federal agency that helps to regulate banks and other finanical institutions |
| Federal Deposit Insurance Corporation | Protects depositor's money in case of a bank failure |
| Federal Deposit Insurance Corporation | Insures 99% of banks up to $100,000 per account |
| Saving and Loan Associations | Specializes in savings accounts and making loans for home mortgages |
| Mutual Savings Banks | Organized mainly for savings accounts and to make loans to home buyers |
| Credit Unions | A user owned, not-for-profit, cooperative finanical institution |
| Credit Unions | Formed by people in the same company, profession, church, or community |
| Life Insurance Companies | Bought to provide financial security for their dependents |
| Investment Companies | Allow people to choose investment opportunities for long-term growth of their money |
| Consumer Finance Companies | Specializes in making loans for long-lasting or durable goods |
| Mortgage Companies | Provide loans for purchasing a home or other real estate |
| Check Cashing Outlets | People who do not have bank accounts may use a CCO to cash a check and to obtain other financial services |
| Pawnshops | Make loans based on the value of tangible possessions such as jewelery |
| Accepting Deposits | Safe storage of funds for future use is an almost universal need |
| Transferring Funds | The ability to transfer money to others |
| Electronic Funds Transfer | A system through which funds are moved electronically from one account to another |
| Automatic Teller Machine | Provides automatic teller service quickly and easily and are available 24 hours a day |
| Forms of Electronic Funds Transfer (EFT) | ATM cards used as debit cards, direct deposit of paychecks, home banking by telephone |
| Safe-Deposit Box | A place to store valuables |
| Safe-Deposit Box | Kept in well-guarded vaults, can only be opened by you and the bank |
| Managing Trusts | Help people manage their money and property |
| The Federal Reserve System | A bank that does not allow you to make deposits |
| The Federal Reserve System | A bank for banks |
| The Federal Reserve System | Supervises and regulates member banks in order ot help the banks serve the public efficiently. |
| Member Banks | Banks that join the Fed |
| Federal Reserve Activities | Accepting deposits, Lending money, Providing other banking services |
| Banking services are used to | Build homes, start businesses, plant crops, pave streets, build hospitals |
| Money | A standard of value and a means of exchange or payment |
| Barter | The trading or exchanging of goods and services without using money. |
| Deposit | Putting money into a bank. |
| Withdrawal | Taking money out of a bank. |
| A Federal Reserve Activity | Clearing Checks |
| A Federal Reserve Activity | Acting as the Federal Governmen'ts Fiscal Agent |
| A Federal Reserve Activity | Supervising Member Banks |
| A Federal Reserve Activity | Regulating the Money Supply |
| A Federal Reserve Activity | Setting Reserve Requirements |
| A Federal Reserve Activity | Supplying Paper Currency |
