| A | B |
|---|
| Federal Deposit Insurance Corporation | an agency that insures deposits in a bank |
| credit union | offers financial services, owned by members |
| bank | offers financial services, owned by shareholders |
| cashierÂ’s check | guaranteed funds - drawn on the bank (bank's check) |
| certified check | a check from your account guaranteed by the bank |
| savings account | a low interest, but safe place to store your money |
| maturity date | the end date for a financial instrument (a CD for example) |
| compound | when the bank/credit union "pays" you earned interest |
| compounding frequency | how OFTEN the bank/credit union "pays" earned interest |
| money order | guaranteed form of payment - do NOT need to have the payee filled in |
| Federal Deposit Insurance Corporation (FDIC) | a federal agency that insures deposits in banks |
| payee | the person or business to whom the check is written |
| safe deposit boxes | a box with a lock you can rent from a bank |
| National Credit Union Administration | an agency that insures deposits in credit unions |
| notary public | state appointed person who validates the signing of documents |
| money market deposit account | a savings account usually requiring a higher balance, but pays higher interest |
| certificate of deposit | a savings tool offering the highest interest rate, but are time-bound |
