HUMS 202 Study Guide - Quiz Guide: Remittance, Overdraft, Social Security Number
23 Mar 2018
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Operate under federal and state laws and regulations. Accept deposits, make loans, pay checks, and provide other financial services. Guaranteed by federal deposit insurance corporation (fdic) Credit unions: owned by their members- must become a member to save or borrow money. Insured by the national credit union administration (ncua) Want to build a solid financial future; access to affordable credit for car, home, or small business loan. Security: federal consumer protection laws protect you when you do business with the bank and the fdic insures your money up to the legal amount. Save money: cheaper than cashing checks at check cashing services. Convenience: get cash out of the bank account 24/7 through atms and debit cards, direct deposit (checks available sooner than if you were to deposit in person) Safe keeping: money at home can get lost, stolen, or destroyed in a fire. Provide written info explaining products offered by the bank.
