| A | B |
|---|
| Bank | a financial institution |
| Ways banks make profit | Interest, fees, and investments |
| FDIC | insures certain accounts up to $250,000 for banks |
| Credit Union | a not for profit financial institution |
| NCUA | insures certain accounts up to $250,000 for credit unions |
| Cashier's Check | a check written from the bank/credit union that assures that the funds are available |
| Reconciliations | compare bank statement to spending register to determine if you are in balance |
| Money Market | usually higher interest than CD or savings but requires a minimum balance of $10,000 and you can write checks as long as you maintain the required balance |
| Certificate of Deposit | pays higher interest than a simple savings but your money is locked for a certain time (6 months to 1 year) |
| Savings | short term for goals or emergency needs. Usually low interest |
