| A | B |
|---|
| Automatic Teller Machine (ATM) | Computer terminals that let you withdraw cash from your account, make deposits, and transfer money. |
| Debit Card | A card that allows you to withdraw money or pay for purchases from your checking/savings account. |
| Point-Of-Sale Transaction | When you use a debit card to purchase an item or a service. |
| Commercial Bank | A for-Profit institution that offers a full range of financial services, including checking, savings, & lending. |
| Savings & Loan Association (S&L) | Traditionally specialized in savings accounts & mortgage loans, but today they also offer checking accounts, business loans, and investment services. |
| Credit Union | A non-profit financial institution that is owned by its members and organized for their benefit. |
| Certificate of Deposit (CD) | A time deposit that requires you to leave your money in a financial institution for a set amount of time. |
| Money Market Account | A savings account in which the interest rate varies from month to month. |
| Rate of Return | The % of increase in the value of your savings from earned interest. |
| Compounding | The process in which interest is earned on both the principal and any previously earned interest. |
| Annual Percentage Yield (APY) | Tells you how much interest a financial institution would pay on $100 deposit for one year. |
| Overdraft Protection | An automatic loan made to you if you write a check for more money than you have in your account. |
| Stop-Payment Order | A request that an institution not cash a particular check. |
| Endorsement | The signature of the payee (person to whom the check has been written). |
| Bank Reconcilliation | A report that accounts for the differences between the bank statement & your checkbook balance. |
| Direct Deposit | An automatic deposit of net pay to an employee's designated bank account. |
