Banking Review

Pat has a savings account and a car loan from a not-for-profit financial institution owned by its members.  She is probably a member of a:

• traditional bank

• credit union

• payday lender

The best reason for depositing money in a bank or credit union savings account instead of keeping your money "under the mattress" is that:

• it will earn a rate of interest.

• you can place bets online.

• your sister can't steal it

The National Credit Union Administration (NCUA) insures accounts in a:

• Progressive Insurance

• stock market

• credit union

Employees prefer direct deposits because:

• It takes longer to be deposited in their checking account.

• Money is deposited in their checking account SOONER!

• it's free money!

When a person is reconciling a checking account and notices that the balance in the checkbook does not match the balance on the statement, which action should the person to take first?

• Determine that checks already written have cleared.

• Close their checking account

• Call the bank manager and complain

A blank endorsement on a check:

• creates a check that can be cashed by anyone.

• means it's canceled

• is the safest

This financial product has the most predictable income:

• stocks

• Certificate of Deposit CD

The ease and speed with which you can convert savings or an investment to cash is:

• liquidity

• gambling

• merging

An account used for every day financial transactions or quick access to cash. Enables check-writing, use of debit card, and access to ATMs.

• Checking account

• Savings account

• Deposit

• Withdrawal

A deposit bank account that lets you securely store funds while also earning interest. You can deposit your money at your bank through cash, check or bank transfer, and it will safely earn interest while it is in your account.

• ATM

• Debit Card

• Checking Account

• Savings Account