| A | B |
|---|
| Depository | financial institution that finances its business by accepting deposits from customers |
| Commercial banks | offer many different services including savings, loans, and checking accounts |
| Savings and loan | traditionally specialized in savings and home loans but now are very similar to commercial banks |
| Mutual savings banks | owned by the depositors and specialize in savings and home loans |
| Credit unions | not-for profit, serve their members only, and are owned by their depositors |
| Non-depository | financial institution that earns money to finance their business by selling specific services such as policies, investments, and loans |
| Endorsement | allows the payee to cash a check, deposit a check, or transfer payment of a check to someone else. |
| Blank | type of endorsement that consists of endorser's name only |
| Full | type of endorsement that transfers payment of a check to someone else |
| Restrictive | type of endorsement that limits use of the check so it can be deposited only to endorser's account |
| Federal Reserve | the centralized banking system of the United States |
| Personal check | check that is tied directly to a customer's checking account but does not guarantee sufficient funds are in the account to cover payment |
| Certified check | a personal check for which a bank has guaranteed payment |
| Cashier's check | a check that a bank draws on its own funds, signed by and paid by the bank itself |
| Traveler's check | pre-paid form of payment that can be used like cash at merchants in many countries and can be replaced if lost or stolen |
| Money order | pre-paid form of payment, often purchased for a small additional fee through a post office, Western Union, bank, grocery store, or convenience store |
