to monitor or track a change

• record

• checking account

• credit union

• retail bank

• savings account

an account that enables its holder to easily transfer money to others*Access money directly by use of a debit card*Make deposits to and withdrawals from the account

• record

• checking account

• credit union

• retail bank

• savings account

a business that performs banking services but is owned by its members They are nonprofit.

• record

• checking account

• credit union

• retail bank

• savings account

a bank that provides services to individuals and businesses

• record

• checking account

• credit union

• retail bank

• savings account

an interest-paying account in which money is placed for extended periods

• record

• checking account

• credit union

• retail bank

• savings account

A ________ bank specializes in providing banking services to large businesses. • Smaller ________banks also engage in retail banking. • Larger ________ banks sometimes specialize in investments. (same word)

• commercial

• credit union

• retail bank

• savings and loan

This association specializes in helping homeowners. • These banks provide loans for buying and building homes.

• commercial

• credit union

• retail bank

• savings and loan

Savings accounts Help users earn interest on money kept in the account

Initial deposit $1000

Annual interest rate 1%

Year-end balance ________

• $1010

• $1020

• $101

• $1100

• Holds money for a set amount of time • Earns a higher rate of interest than savings accounts

• Certificate of deposit

• Money market

• Savings bond

• Requires a high minimum balance • Earns a higher rate of interest than savings accounts

• Certificate of deposit

• Money market

• Savings bond