Intro. to Depository Institutions Assessment

Anyone can open an account at this depository institution.

• credit union

• commercial bank

• both

This type of depository institution offers other financial services.

• credit union

• commercial bank

• both

The customers at this type of depository institution are the owners of the institution.

• commercial bank

• credit union

• both

This type of depository institution is in business to make money.

• credit union

• commercial bank

• both

You must meet certain membership requirements in order to become a member of this type of depository institution.

• credit union

• commercial bank

• both

You can rent a safe deposit box at this type of financial institution.

• credit union

• commercial bank

• both

Your money is insured by the FDIC at this type of financial institution.

• credit union

• commercial bank

• both

Each depositor is insured against loss up to a maximum of $250,000 by the NCUA at this depository institution.

• credit union

• commercial bank

• both

The FDIC is a federal government agency that insures depository institutions.

• true

• false

A depository institution is a safer place to store your money--safer than your mattress.

• true

• false