Banking

Accepts deposits and makes loans and derives a profit from the difference in the interest rates paid and charged, respectively.

• Bank

• Store

• FDIC

• Interest

A type of bank where depositors become members/owners of the bank.

• Key Bank

• Board of Directors

• Credit Union

• Savings

The rate at which a bank charges borrowers for borrowing money.

• Loan

• Interest Rate

• NCUA

• Checking Account

The way in which interest is calculated. For example, the interest may be recalculated monthly.

• Compound interest

• Simple interest

• Endorsement

• Savings Account

Charges the bank imposes on borrowers for certain services such as ATM access.

• Interest

• Loan

• Withdrawal

• Bank fees

Banks make money on these types of products

• FDIC

• Withdrawals

• Loans

• Deposits

Term that means the federal government insures your money in your bank account.

• Credit

• FDIC

• Interest

• CD

You can use your debit card to make transactions at these machines.

• EFT

• AMT

• ATM

• FDA

Type of account depositors draw from to pay their bills. Can be accessed through an ATM, writing a check, or using a debit card.

• Savings Account

• Money Market Account

• Checking Account

• Certificate of Deposit

Type of account that allows you to save a specific amount of money for a specific period of time, such as one year, in exchange for a higher interest rate, and you can’t withdraw your money early.

• CD

• Checking Account

• Money Market account

• FDIC