Financial Institutions

Front

Payment made for the use of borrowed money is called

Back

Interest

Front

Who pays interest on a loan? Options: a lender, a borrower, a credit union, a creditor

Back

a borrower

Front

Banks provide which of the following EXCEPT: debit cards, loans, check writing services, government subsidies?

Back

government subsidies

Front

A credit union...

Back

is a non-profit institution owned by its members and provides financial services to its members.

Front

Piece of ownership in a company, mutual fund or other investment

Back

Share/stock

Front

Persons or institutions to whom money is owed

Back

Creditors

Front

Money added into a bank account.

Back

deposit

Front

Commercial banks earn money in all of the following ways EXCEPT: Investing in other companies, Charging fees for their services, Collecting interest on loans, Taking a percentage off of all deposits

Back

Taking a percentage off of all deposits

Front

Which financial institution comes with the most risk (highest interest/fees owed)? Options: Commercial Banks, Credit Unions, Payday Lenders, Title Pawn Lenders

Back

Payday Lenders

Front

Who owns a credit union?

Back

its members