| A | B |
|---|
| Automatic Teller Machines (ATM) | Are used to withdrawal, deposit, and transfer money and are available to customers’ 27-hours a day. |
| Commercial Banks | A bank that offers a full range of financial services. |
| Credit Union | A not-for-profit financial institution formed by people who have like occupations or live in the same community. |
| Debit Cards | Are used in place of writing checks to make payments for the customer and accounts are updated automatically. |
| Deposits | Are a safe way to save for the future and allow your money to earn interest. |
| Direct Deposits | Allows paychecks to be deposited electronically which reduces paperwork, saves time and funds are readily available to the customer. |
| Electronic Funds Transfer (EFT) | A system through which funds is moved electronically from one account to another and from one bank to another. |
| Electronic money (E-CASH) | Customer pays a face value for a card and then uses the card as cash until it is all used up. |
| Federal Deposit Insurance Corporation (FDIC) | A federal agency that protects depositors’ money in case of the failure of a bank or financial institution that it regulates. |
| Federal Reserve System | Is known as the bank’s bank. It is the central bank of the United States. A nationwide banking plan set up by our federal government to supervise and regulate member banks. |
| Interest | An amount paid for the use of money. |
| Investments | Are savings that are put to work to earn more money. |
| Magnetic Ink/Optical Character Recognition (MICR/OCR) | Machines used to read and verify checks at a bank. |
| Mutual Savings Bank | A bank owned by depositors that mainly handles savings accounts and makes loans to home buyers. |
| Point of Sale (POS) | Transactions using an ATM card or debit card. |
| Safe-Deposit Boxes | A secured area in a bank vault for storing valuabl |
| Savings & Loan Association (S&L) | A financial institution that specializes in savings accounts and loans for mortgages. |
| Trust Companies | Financial institutions that specialize in managing the money and property of others. |
