| A | B |
|---|
| Commerical bank | A full-service financial institution that offers a variety of services |
| Saving and loan association | A financial institution that provides loans and mortgages to customers who hold a saving acount |
| Credit union | A nonprofit financial cooperative owned by its members |
| Brokerage firm | A licensed institution that specializes in investing. |
| Insured financial institution | One that is insured---as by Federal Deposit Insurance Corporation (FDIC), Savings Association Insurance Fund (SAIF), or Natioanl Credit Union Administration (NCUA) to protect deposits of clients |
| Checking account | Paper checks or debit cards are used to withdraw money deposited into the account to pay for items |
| Savings account | Money is deposited into an account to earn interest |
| Retirement plan account | A plan for saving money for retirement; money tax-deferred until withdrawn |
| Share account | A savings account at a credit union |
| Share certificate account | A certificate of deposit at a credit union |
| Share draft account | A checking account at a credit union |
| Bond | An investment of money in a government or organization |
| Certificate of deposit | An insured interest-earning savings tool with restricted access to funds |
| Mutual fund | Groups of stocks, bonds, and other investments managed by an investment firm |
| Real estate investment | Purchasing properties as an investment to gain profit |
| Stock | Ownership, represented by shares, in a corporation |
| Credit card | A card used to make a purchases; must be repaid later with interest |
| Loan | Borrowed money |
| Mortgage | A loan to purchase a home or other real estate |
| Financial counseling | Assistance to consumers with specific areas of financial planning |
| Safe-deposit box | A secured box in a bank used by clients for valuable personal items |
| E-banking | Using computer networks to make electronic funds transfers among accounts |
| access | The ability to obtain money from one’s accounts quickly and easily |
| Personal Identification Number (PIN) | A unique number kept secured and used to access an account and perform transactions |
| Automated Teller Machine (ATM) | A computer terminal used to transact business with a financial institution |
| Direct deposit | Arrangement for electronically depositing pay/benefits directly into an account |
| Direct withdrawal | Arrangement for electronically withdrawing funds from an account to pay bills |
| Smart card | Card storing pre-paid amounts of money to use when making purchases |
| Currency | Paper money; bills |
| Personal check | A hand-written document used to pay for purchases using funds in a personal checking account |
| Cashier’s check | A check bought from a bank with payment guaranteed by the bank |
| Certified check | A personal check with a bank’s guarantee of payment |
| Money order | A way for people with no checking account to send money by mail |
| Traveler’s check | A check used in place of cash when traveling for greater security |
| Debit card | A card used for point-of-sale transactions on a checking account |
| Credit card | A card used for payment through credit with interest accruing |
| Open-end credit | A credit arrangement where the amount of money borrowed continues to change as payments are made and purchases are put on the credit card |
| Closed-end credit | A credit arrangement where the amount of money borrowed and the amount to be repaid per month are fixed at the time the installment loan is made |
| Point-of-sale (POS) transfer | The place where a purchase is made and money is electronically moved |
