Eco: Personal Finance

Size: px
Start display at page:

Download "Eco: Personal Finance"

Transcription

1 Name Project Date: Eco: Personal Finance 1. Go to one of the following sites, or choose your own bank and answer the questions below. Be sure the bank you choose has local branches. bank.com ny.com (take individual link) orkbank.com (Credit Union) I. Bank: 1. What types of products and services do banks offer to individuals (personal)? Check all that apply Products and Services o ATM reimbursements for fees charged by other banks for using their ATM s o Automatic Savings Plan (Christmas, Vacation Club etc.) o Online Bill Payment o Summaries of your online accounts/ Online Bank Statements o Online Fraud Protection o Automatic Deductions for Bank Loans o Overdraft protection o Send & receive money online o Bank by phone o Services in Spanish (or other languages) o Investment Services (stocks, bonds, mutual funds) o Financial Planning Services: you'll meet with a representative to discuss your financial status. Then work together to design a strategy to help you reach your goals, save money, and manage debt o Direct Deposit: your payroll, government, pension or dividend funds are automatically deposited into your account and are available immediately.

2 o and Wireless Banking alerts notify you if you are overdrawn, have bills due, etc. o Financial Centers: Face to face services at a bank! o Free access to research from Salomon Smith Barney or other investment brokerage. o Wire money o ATM Card o ATM/Debit Card o Basic Checking: No balance required o Certificates of Deposit (CD s) o Revolving line of credit 1 that provides overdraft protection o Life Insurance/Long Term Care Insurance o Credit Cards o Money Market o Loans o Checking accounts o Others Let s Shop Around! A. Assume that you are going to open a savings account and you have $300 to deposit. Compare 3 banks and find the best match for you. Bank Interest Rate Fees Extras such as ATM or Debit card, Online banking, etc.

3 1. Which bank will you choose? Why? B. Since you will be going to college or getting a full time job in September, you ll need a checking account. Which bank, near your home or college, best suits your needs? Compare 3 banks below. Be sure to include the bank with the best Savings account for you. Bank # of free checks per month Debit card fees Monthly Fee or Minimum balance to avoid it Per debit fees at nonbank ATM s Per check fee Overdraft protection? (Yes: Conditions /No) 2. Which bank will you choose? Why?

4 C. You received $3,000 in graduation presents and want to invest your money. Compare CD s and Money Market Accounts below. Since there may be fees associated with your investment be sure to use the Annual Percentage Rate (APR) rather than the Interest Rate. Interest Rate: Interest paid per year and expressed as a percentage APR stands for annual percentage rate and reflects the interest rate charge on the loan plus other finance charges including, for example, private mortgage insurance premiums, points and other financing costs you pay when obtaining the loan. CD s offer dual benefits of high interest rates and the security of FDIC insurance But early withdrawal penalties *******Use and take the link to CD s/savings, choose by State, NY and then Long Island. Use the CD Interest Rate calculator at to compute the value of your investment at maturity.******* Bank APR Value at Term APR Value at Term APR Value at Term 1 year APR 5 year APR 10 year APR Early withdrawal penalty (Y:

5 conditions/n) Money Market Accounts. These are government-insured accounts that allow you access to the money you have deposited. (Liquid) Withdrawals are limited to six monthly, three of which may be by check. These accounts earn interest with the rate varying widely. Banks that are trying to attract deposits often offer MMAs with higher yields. Yield also vary on the amount deposited: The more you deposit, the more you earn. Money market funds are a type of mutual fund. Each share is worth $1. That value never changes. That value never changes. But the return on the investment does fluctuate. Earnings are paid as dividends to shareholders. Although the deposits made in these funds by shareholders are not insured by the government, money market funds are a relatively secure investment. Under government regulations, these funds must go into high quality short-term investments. Investors also can write checks against the balance invested in these funds. Bank/Fund APR Fees or Minimums FDIC Insured? 3. Which sound like the best savings vehicle for you? Why? D. It s time to get some loans to pay for college, a new car, or that house you want to buy. Take the calculator link and select Automobile Assume you are buying a $18,000 car.

6 1. Use the search engine to Choose a Product. Select Auto. Then Select NYS and Long Island. Choose 1 bank and compare the information for the loans described below. 2. A word about fees. If there is No fee then it is stated. Fees may be a small percentage such as.25%, which is $45 for an $18,000 loan. Bank Term 36 Month New Auto 36 Month Used Auto 48 Month New Auto 60 Month New Auto Rate Fees or Conditions Other Perks 2. Choose 2 products from your chart above. Compute the amount you will have to pay for your car loan each month and the amount of interest you will pay over the 5-year term.www.bankrate.com Bank Rate Monthly payment Total Paid over term

7 Total paid in interest (Total Paid Car Price) 1. Which situation will provide you with the lowest monthly payments? 2. Which situation will cost you the most in credit (total interest paid)? 3. Which is best for you? Why? E. So you want credit? Compare Credit Card rates below. Investigate Credit Card Rates by using the search engine to search for Credit Cards. Then find the information in the Latest Rates box: 1. Complete the chart below comparing average credit card rates in the U.S. Type Standard Gold Platinum Rate (APR) 2. Why would you choose 1 type of card over another? 3. Would you qualify for all types? 4. Take the Link to "How s Your Credit." Complete the test. 5. What is your credit rating? 6. Use the Credit Card Calculator and compute the cost of charging $2000 on your credit card to pay for the new couch and television set you need in your apartment. Calculate the cost of paying only the minimum and cost of paying a higher amount. You may not pay off your full balance or pay more than $150 per month.

8 Charge $1500 Minimum payment (set by calculator based on loan amount) Other payment (any amount ove minimum) Rate (APR) 13% $75 or # of months to repay Total cost of credit (above original charge) What is the best payment plan when using a credit card? 9. Take the link to "How do I find a better credit card?" And then to "Find the card that fits your lifestyle." Take the link to "Student Cards." Company/Bank Card Class Annual Fee Variable or Fixed Rate APR

9 Late Fee Grace Period Over the limit Fee Cash Advance APR Cash Advance Fee Which is the Best Card for you? Why? Glossary Card Class: Classic, Platinum Annual fee: Yearly fee to use the card) V= Variable Rate: The rate will change throughout the year F= Fixed Rate: Interest rate will remain the same APR: rate of interest that includes fees and costs paid to acquire the loan. Late fee: Fee charged if payment is not received on time Over the limit fee: Fee charged if you spend more than your credit limit allows Grace period : The standard grace period is usually between days. If there is no grace period, finance charges will accrue the moment a purchase is made with the credit card. APR for cash advance: rate of interest including fees when you use credit cards to withdraw cash Fee for cash advance: A charge by the bank for using credit cards to obtain cash. It can be a flat (set) fee or a percentage of the amount of the cash advance.

10 **Some cards charge a fee for transferring a balance (the money you owe) from one card to another.

Banking & Budgeting Basics: Making the most of your money

Banking & Budgeting Basics: Making the most of your money Growing Dollars and $ense Workshops Banking & Budgeting Basics: Making the most of your money Presented by The Coalition for Debtor Education www.debtoreducati0n.org This program is made possible by a

More information

BUYING AND FINANCING YOUR NEW CAR

BUYING AND FINANCING YOUR NEW CAR BUYING AND FINANCING YOUR NEW CAR By the InCharge Education Foundation, Inc. 2101 Park Center Drive, Suite 310 Orlando, FL 32835 www.mindyourfinances.com All rights reserved. No part of this book may be

More information

Module 2 Lesson 3 Narrative

Module 2 Lesson 3 Narrative Module 2 Lesson 3 Narrative What are savings tools/products/instruments? If you have a specific savings goal in mind and know the amount you need to save and how long you have to save for it, you have

More information

Welcome to SchoolsFirst Federal Credit Union

Welcome to SchoolsFirst Federal Credit Union Welcome to SchoolsFirst Federal Credit Union This guide will help you understand how your All Valley FCU accounts will be transitioning over to SchoolsFirst FCU. In the coming weeks, look for a guide on

More information

Opening a Bank Account

Opening a Bank Account Opening a Bank Account Section Objectives A basic component in establishing financial independence is Opening a Bank Account. Banking services are essential tools for managing personal finances and building

More information

Consumer Loan & VISA Rates October 1, 2015 (rates are subject to change)

Consumer Loan & VISA Rates October 1, 2015 (rates are subject to change) Consumer Loan & VISA Rates Loan Type Terms & Special Features Interest Rate (APR) 1 New and Used Auto Finance up to 120% of purchase price on new autos (not including tax, title, licensing and cancelable

More information

TRUTH-IN-SAVINGS ACT ACCOUNT DISCLOSURE. Checking. INSTITUTION Geauga Savings Bank 10800 Kinsman Road Newbury, OH 44065

TRUTH-IN-SAVINGS ACT ACCOUNT DISCLOSURE. Checking. INSTITUTION Geauga Savings Bank 10800 Kinsman Road Newbury, OH 44065 Basic : There are no minimum balance requirements for this account. Refer to the Service Fees Disclosure for a complete listing of fees and charges. Super : You must deposit $50.00 to open this account.

More information

Comparison of Historical Rates: Credit Unions, Savings Banks, and Other Banks Data compiled by Datatrac, Inc. Contact: Ken Wanek at 1-800-257-7101.

Comparison of Historical Rates: Credit Unions, Savings Banks, and Other Banks Data compiled by Datatrac, Inc. Contact: Ken Wanek at 1-800-257-7101. 36 month Used Auto Loan, 2 Year-Old Auto Credit Unions 4.94 4.95 5.62 Savings Banks 7.05 6.96 7.49 Other Banks 7.78 7.09 7.78 48 month Used Auto Loan, 2 Year-Old Auto (Comparison of average credit union,

More information

BANKING 101. Consolidated Credit 5701 West Sunrise Boulevard Fort Lauderdale, FL 33313 1-800-210-3481 www.consolidatedcredit.org

BANKING 101. Consolidated Credit 5701 West Sunrise Boulevard Fort Lauderdale, FL 33313 1-800-210-3481 www.consolidatedcredit.org BANKING 101 Consolidated Credit 5701 West Sunrise Boulevard Fort Lauderdale, FL 33313 1-800-210-3481 www.consolidatedcredit.org Congratulations on taking this important step to learn about issues dealing

More information

Products and Services

Products and Services Products and Services Enjoy Life s Journey 401.233.4700 navigantcu.org Federally insured by the National Credit Union Administration. Products and Services Navigant Credit Union provides you with the products

More information

6.15.1.7 Describe and use the steps involved in the banking reconciliation process

6.15.1.7 Describe and use the steps involved in the banking reconciliation process ND BUSINESS EDUCATION FRAMEWORKS Financial Literacy Course Code Course Name/Course Description Grade Levels Accreditation Time/Credit Options 14095 Financial Literacy is designed to help students understand

More information

Pay Yourself First. Identify Steps You Can Take to Save The following tips will help you to save your flexible income.

Pay Yourself First. Identify Steps You Can Take to Save The following tips will help you to save your flexible income. Pay Yourself First Use this tip sheet to help you in the process of setting and reaching your personal savings goals. This tip sheet covers the following topics: Identifying steps you can take to save

More information

transfer money by check or electronic payment to a person or organization that you designate as payee

transfer money by check or electronic payment to a person or organization that you designate as payee Bank Products 1. Introduction For many people, the first financial institution they deal with, and the one they use most often, is a bank or credit union. That s because banks and credit unions provide

More information

Truth in Savings Disclosure

Truth in Savings Disclosure Truth in Savings Disclosure Disclosure of Terms Applicable to All Member Accounts Dividends are paid from current income and available earnings, after any required transfer to reserves, at the end of a

More information

DEPOSIT ACCOUNT TERMS AND CONDITIONS AND PRIVACY POLICY

DEPOSIT ACCOUNT TERMS AND CONDITIONS AND PRIVACY POLICY DEPOSIT ACCOUNT TERMS AND CONDITIONS AND PRIVACY POLICY Note that the privacy policy applies to all personal accounts, not just deposit accounts. WELCOME TO M&T A GUIDE TO THE TERMS OF YOUR PERSONAL DEPOSIT

More information

TRUST. Understanding Your Deposit Account. Truth in Savings

TRUST. Understanding Your Deposit Account. Truth in Savings Understanding Your Deposit Account Truth in Savings TRUST MEMBER FDIC TRUTH-IN-SAVINGS DISCLOSURE Important Account Opening Information. Federal law requires us to obtain sufficient information to verify

More information

Ready to Go Checking. Simply Stated Product Guide

Ready to Go Checking. Simply Stated Product Guide For us, it s important that you understand exactly how your Ready to Go Checking account works. Below is an explanation of the key terms and fees of your personal account. For additional details of terms

More information

Loan & VISA Rates. December 1, 2014 (rates are subject to change)

Loan & VISA Rates. December 1, 2014 (rates are subject to change) Loan & VISA Rates Loan Type Terms & Special Features Interest Rate (APR) New and Used Auto Finance up to 115% of purchase price on new autos. Finance up to 115% Kelly Blue Book, applies to vehicles 7 years

More information

Bank Products. 3.1 Introduction

Bank Products. 3.1 Introduction Bank Products Bank Products For many people, the first financial institution they deal with, and the one they use most often, is a bank or credit union. That s because banks and credit unions provide a

More information

account statement a record of transactions in an account at a financial institution, usually provided each month

account statement a record of transactions in an account at a financial institution, usually provided each month GLOSSARY GLOSSARY Following are definitions for key words as they are used in the financial life skills resource. They may have different or additional meanings in other contexts. A account an arrangement

More information

Personal Financial Literacy 2014

Personal Financial Literacy 2014 A Correlation of Table of Contents Standard 1: Income... 3 Standard 2: Money Management... 5 Standard 3: Spending & Credit... 7 Standard 4: Saving & Investing... 11 2 Course Description is a course designed

More information

Choose Alaska USA and save!

Choose Alaska USA and save! Choose Alaska USA and save! Open a new personal checking account with Alaska USA and get your first box of checks FREE. Alaska USA doesn t charge per-check fees regardless of how many you write per month.

More information

1 Regional Bank Regional banks specialize in consumer and commercial products within one region of a country, such as a state or within a group of states. A regional bank is smaller than a bank that operates

More information

Student Take Home Guide. Money Smart. Pay Yourself First

Student Take Home Guide. Money Smart. Pay Yourself First Student Take Home Guide Money Smart Table of Contents Table of Contents...1 Money Smart...2...3 Worksheet...4 Plan...5 Savings Tips...6 Compound Dividends Exercise...8 Compound Dividends...9 Savings $1

More information

Important Update to Your Deposit Account

Important Update to Your Deposit Account Important Update to Your Deposit Account Beginning February 12, 2012, U.S. Bank changed the way we post transactions to your deposit account to better align with the way you actually make those transactions.

More information

Rewards Banking. The more you bank, the more benefits you receive. Earn higher rates on select products. Take advantage of account services

Rewards Banking. The more you bank, the more benefits you receive. Earn higher rates on select products. Take advantage of account services Rewards Banking The more you bank, the more benefits you receive. Earn higher rates on select products Take advantage of account services Save with special discounts Get money back on select fees All Rabobank

More information

Think it s not worth the hassle to switch your checking account? With Fairport Savings Bank, it takes just minutes to switch!

Think it s not worth the hassle to switch your checking account? With Fairport Savings Bank, it takes just minutes to switch! Think it s not worth the hassle to switch your checking account? With Fairport Savings Bank, it takes just minutes to switch! Open a new Fairport Savings Bank Checking account Our branch representatives

More information

5 Effective Savings Strategies GL 04/09

5 Effective Savings Strategies GL 04/09 5 Effective Savings Strategies GL 04/09 1 Table of Contents THE BASICS A. Saving vs. Investing B. The Time Value of Money C. The Miracle of Compounding Interest THE HOW 1. Make Automatic Transfers 2. Set

More information

Basic Banking. Presented by Bank on Gaithersburg, Family Services, Inc., and MD CASH Academy

Basic Banking. Presented by Bank on Gaithersburg, Family Services, Inc., and MD CASH Academy Basic Banking Presented by Bank on Gaithersburg, Family Services, Inc., and MD CASH Academy Financial Institutions What are they- banks, credit unions What do they offer: Checking accounts Savings accounts

More information

Your Money Matters! Financial Literacy Teacher Guide. Thanks to TD for helping us bring this resource to schools for free.

Your Money Matters! Financial Literacy Teacher Guide. Thanks to TD for helping us bring this resource to schools for free. Your Money Matters! Financial Literacy Teacher Guide 2 Table of Contents: Introduction...3 Toronto Star epaper...4 Financial Awareness Inventory...5 SPENDING To Spend or Not to Spend Activity...6 I Need

More information

HIGH YIELD CHECKING. EXPLANATION OF SOME OF OUR KEY SERVICES AND CHARGES Here are details about High Yield Checking services.

HIGH YIELD CHECKING. EXPLANATION OF SOME OF OUR KEY SERVICES AND CHARGES Here are details about High Yield Checking services. EXPLANATION OF SOME OF OUR KEY SERVICES AND CHARGES Here are details about High Yield Checking services. KEY ACCOUNT TERMS AND CHARGES: Monthly Service Charge: No monthly service charge. Includes free

More information

Personal Banking 101 Interested in learning about how to manage your money? Personal Banking 101 will help you understand the financial fundamentals.

Personal Banking 101 Interested in learning about how to manage your money? Personal Banking 101 will help you understand the financial fundamentals. Personal Banking 101 Interested in learning about how to manage your money? Personal Banking 101 will help you understand the financial fundamentals. Checking Account If you need a safe place to keep your

More information

TRUTH IN SAVINGS DISCLOSURE

TRUTH IN SAVINGS DISCLOSURE TRUTH IN SAVINGS DISCLOSURE Effective 2-15-2016 TABLE OF CONTENTS TERMS AND CONDITIONS TRUTH IN SAVINGS DISCLOSURE...... 2 BALANCE COMPUTATION METHODS. 2 DAILY BALANCE METHOD. 2 AVERAGE DAILY BALANCE METHOD.

More information

YOUNG PROFESSIONALS. Guide to Getting Started on the Right Financial Foot. Presented by:

YOUNG PROFESSIONALS. Guide to Getting Started on the Right Financial Foot. Presented by: YOUNG PROFESSIONALS Guide to Getting Started on the Right Financial Foot Presented by: 1 As a young professional, you know that the financial choices you make today can impact your future goals and lifestyle.

More information

Saving and Investing Tools

Saving and Investing Tools STUDENT MODULE 5.3 SAVING AND INVESTING PAGE 1 Standard 5: The student will analyze the costs and benefits of saving and investing. Saving and Investing Tools Miley and Hanna are both turning 16 this year

More information

Business Checking Accounts*

Business Checking Accounts* YOUR SATISFACTION MATTERS Business s* Our goal is to convert your current business checking account to a new First Niagara account with comparable features, benefits and options. If you would like to switch

More information

Assist. Financial Calculators. Technology Solutions. About Our Financial Calculators. Benefits of Financial Calculators. Getting Answers.

Assist. Financial Calculators. Technology Solutions. About Our Financial Calculators. Benefits of Financial Calculators. Getting Answers. Assist. Financial s Technology Solutions. About Our Financial s. Helping members with their financial planning should be a key function of every credit union s website. At Technology Solutions, we provide

More information

lesson twelve saving and investing overheads

lesson twelve saving and investing overheads lesson twelve saving and investing overheads pay yourself first (a little can add up) example 1: Save this each week At % Interest In 10 years you ll have $7.00 5% $4,720 14.00 5% 9,440 21.00 5% 14,160

More information

Managing Your Checking Account

Managing Your Checking Account Managing Your Checking Account People you trust. Advice that works. Member FDIC trustmark.com Keeping in Check Avoid unnecessary fees by staying in control of your checking account. 1. Record all transactions

More information

Bank on the Difference

Bank on the Difference Bank on the Difference THE BENEFITS OF AFFILIATION Wouldn t it be great if you could offer more valuable employee benefits at no additional cost? Affiliation with Central Credit Union can help you do just

More information

Contact Center 630.276.5555 800.942.0158 (toll-free) 8:30 am 4:00 pm. Learn more about your credit union at. hacu.org

Contact Center 630.276.5555 800.942.0158 (toll-free) 8:30 am 4:00 pm. Learn more about your credit union at. hacu.org Membership hacu.org Contact Center 630.276.5555 800.942.0158 (toll-free) Monday Wednesday Tues.,Thurs. & Fri. 8:30 am 5:00 pm 8:30 am 1:00 pm 8:30 am 4:00 pm Learn more about your credit union at hacu.org

More information

It s Your Paycheck! Glossary of Terms

It s Your Paycheck! Glossary of Terms Annual percentage rate The percentage cost of credit on an annual basis and the total cost of credit to the consumer. APR combines the interest paid over the life of the loan and all fees that are paid

More information

OHIO TREASURER S FINANCIAL EDUCATION GLOSSARY OF TERMS

OHIO TREASURER S FINANCIAL EDUCATION GLOSSARY OF TERMS OHIO TREASURER S FINANCIAL EDUCATION GLOSSARY OF TERMS 401(k) An employer qualified retirement plan set up by a private company in which eligible employees may make salary-deferral (salary-reduction) contributions

More information

Checking Account Options January 1st, 2013 (rates are subject to change)

Checking Account Options January 1st, 2013 (rates are subject to change) Checking Account Options Earn with Eco-Checking. Good for you. Good for us all. Point West Credit Union is rooted in the cooperative nature of credit unions - we are all about people helping people. And

More information

Using Credit to Your Advantage Credit Cards and Loans Participant Guide

Using Credit to Your Advantage Credit Cards and Loans Participant Guide Hands on Banking Using Credit to Your Advantage The Hands on Banking program is a free public service provided by Wells Fargo. You may also access the program anytime at www.handsonbanking.org & www.elfuturoentusmanos.org

More information

Truth In Savings. Page 1 of 10

Truth In Savings. Page 1 of 10 Dividend rates and corresponding yields for all products are listed on Andrews Federal Credit Union s (Andrews Federal) rate schedule, a copy of which will be provided to you at the time you open your

More information

Personal and Business Checking and Savings Solutions

Personal and Business Checking and Savings Solutions 2015 Bank of Texas, a division of BOKF, NA. Member FDIC. Equal Housing Lender. TX CN 4000 Rev. 3/15 Personal and Business Checking and Savings Solutions Call our 24-Hour ExpressBank TABLE OF CONTENTS Personal

More information

Personal Account Conversion Charts

Personal Account Conversion Charts Personal Account Conversion Charts 33 Simple Checking Columbia Checking Free Check Safekeeping 2 or estatements 7. Gold Checking, VIP Checking or Platinum Checking and the primary account holder is at

More information

Step 1: Open a new account with us Visit any Busey branch to get started, or open your account online at busey.com.

Step 1: Open a new account with us Visit any Busey branch to get started, or open your account online at busey.com. Welcome to Busey Switch Kit We want to make your move to Busey as seamless as possible this Switch Kit gives you the tools you need to help ensure a smooth transition. Just follow these simple steps! Step

More information

A Technical Guide for Individuals. The Whole Story. Understanding the features and benefits of whole life insurance. Insurance Strategies

A Technical Guide for Individuals. The Whole Story. Understanding the features and benefits of whole life insurance. Insurance Strategies A Technical Guide for Individuals The Whole Story Understanding the features and benefits of whole life insurance Insurance Strategies Contents 1 Insurance for Your Lifetime 3 How Does Whole Life Insurance

More information

Managing your checking account.

Managing your checking account. We re here for you We hope you have found this guide helpful. In the future, anytime you have a question about your account, visit a Webster branch or call us. You can rely on Webster for whatever assistance

More information

PRODUCT KNOWLEDGE SAMPLE. Sample. Credit Union Name. Developed By:

PRODUCT KNOWLEDGE SAMPLE. Sample. Credit Union Name. Developed By: MEMBER NEEDS HANDBOOK Credit Union Name Developed By: The Pell Group & Creating Member Loyalty Copyright 2014 Credit Union National Association, Inc. 1 Introduction Introduction Facts About Credit Union

More information

Financial Literacy Course Outline Maryland, USA

Financial Literacy Course Outline Maryland, USA Financial Literacy Course Outline UNIT 1 INCOME AND PURCHASING The purpose of this unit is to develop the concepts of income and purchasing. Class discussions should include gross versus net pay, buying

More information

Personal Finance Standards (Assignment Code #22210)

Personal Finance Standards (Assignment Code #22210) Personal Finance Standards (Assignment Code #22210) Rationale Statement: A citizen that lives within his or her income has more control over his or her life while expanding choices. Having the knowledge

More information

Switch Kit Pre-Transfer Worksheet

Switch Kit Pre-Transfer Worksheet Switch Kit Pre-Transfer Worksheet The Switch Kit is a free tool that allows you to quickly and easily change your accounts from your financial institution to the State Bank of Toulon. By filling out a

More information

U.S. Bank Checking Account Update

U.S. Bank Checking Account Update U.S. Bank Checking Account Update U.S. Bank checking account customers in Idaho, Kansas, Missouri and Nevada may experience an account update on the dates noted below. Updated account features many of

More information

Checking Account Options September 1st, 2013 (rates are subject to change)

Checking Account Options September 1st, 2013 (rates are subject to change) Checking Account Options Earn with Eco-Checking. Good for you. Good for us all. Point West Credit Union is rooted in the cooperative nature of credit unions - we are all about people helping people. And

More information

Describe the 3 steps in the financial planning process. Identify the four key players in the economy.

Describe the 3 steps in the financial planning process. Identify the four key players in the economy. Subject Area: Course: Math Personal Finance Unit: 1 Financial Planning What is Financial Planning? How does it fit into your life and career plans? When should you start planning for your future? personal

More information

Canada Deposit Insurance Corporation (CDIC) a federal government organization that provides insurance to protect money deposited in Canadian banks

Canada Deposit Insurance Corporation (CDIC) a federal government organization that provides insurance to protect money deposited in Canadian banks Glossary Following are definitions for key words as they are used in the financial life skills resource. They may have different or additional meanings in other contexts. A account an arrangement at a

More information

elcome to Webster Personal Banking. For Your Convenience Our Customer Care Center is open 7 am - 10 pm, 7 days a week.

elcome to Webster Personal Banking. For Your Convenience Our Customer Care Center is open 7 am - 10 pm, 7 days a week. For Your Convenience Our Customer Care Center is open 7 am - 0 pm, 7 days a week. Call -888-4WEBSTER (-888-493-2783) We also have over 65 branches and almost 500 ATMs so that you can bank on your schedule.

More information

TRUTH IN SAVINGS DISCLOSURE

TRUTH IN SAVINGS DISCLOSURE TRUTH IN SAVINGS DISCLOSURE TABLE OF CONTENTS TERMS AND CONDITIONS TRUTH IN SAVINGS DISCLOSURE...... 2 BALANCE COMPUTATION METHODS. 2 DAILY BALANCE METHOD. 2 AVERAGE DAILY BALANCE METHOD. 2 AVAILABLE BALANCE..

More information

Personal Financial Literacy Vocabulary

Personal Financial Literacy Vocabulary TEACHER GUIDE 5.3 SAVING AND INVESTING PAGE 1 Standard 5: The student will analyze the costs and benefits of saving and investing. Saving and Investing Tools Priority Academic Student Skills Personal Financial

More information

Interest Cost of Money Test - MoneyPower

Interest Cost of Money Test - MoneyPower Interest Cost of Money Test - MoneyPower Multiple Choice Identify the choice that best completes the statement or answers the question. 1. To determine the time value of depositing $100 in a savings account,

More information

Financial Literacy. Credit basics

Financial Literacy. Credit basics Literacy Credit basics 2 Contents HANDOUT 6-1 Types of credit Type of credit Lender Uses Conditions Revolving credit Credit Cards (secured and unsecured NOT prepaid) To make purchases, pay bills, make

More information

Annual Consumer Deposit Account Disclosure

Annual Consumer Deposit Account Disclosure Annual Consumer Deposit Account Disclosure March 2014 Banking Services: C H E C K I N G Back 2 Basics Checking Rate information: This account does not earn interest Minimum balance to avoid the imposition

More information

$25. Opening Deposit on us!* For more information please contact: BRANCH AND ATM LOCATIONS WHO IS THE SF POLICE CREDIT UNION? WHAT DO WE OFFER?

$25. Opening Deposit on us!* For more information please contact: BRANCH AND ATM LOCATIONS WHO IS THE SF POLICE CREDIT UNION? WHAT DO WE OFFER? SFPCU Welcomes Contra Costa SO WHO IS THE SF POLICE CREDIT UNION? The SF Police Credit Union has provided financial services since 1953. We are a non-profit, financial institution that is cooperatively

More information

The Cost of Payday Loans

The Cost of Payday Loans The Cost of Payday Loans Table of Contents What is a payday loan? 1 How does a payday loan work? 2 How and when do I pay back the loan? 4 How does a payday loan affect my credit report? 4 How much will

More information

The Eight Money Smart for Young Adults Modules

The Eight Money Smart for Young Adults Modules The Eight Money Smart for Young Adults Modules 1 1 Module 1: Bank On It 2 2 Module 2: Check It Out 3 3 Check It Out Benefits of checking accounts Types of checking accounts Understanding banking fees Opening

More information

Cash Management. Cash management. Two key aspects of cash mgt. Checking Accounts Savings Accounts Debit cards and overdraft protection

Cash Management. Cash management. Two key aspects of cash mgt. Checking Accounts Savings Accounts Debit cards and overdraft protection Cash Management Checking Accounts Savings Accounts Debit cards and overdraft protection Cash management Getting a handle on your cash and other liquid assets Cash is the money in your wallet plus what

More information

Standard 7: The student will identify the procedures and analyze the responsibilities of borrowing money.

Standard 7: The student will identify the procedures and analyze the responsibilities of borrowing money. TEACHER GUIDE 7.2 BORROWING MONEY PAGE 1 Standard 7: The student will identify the procedures and analyze the responsibilities of borrowing money. It Is In Your Interest Priority Academic Student Skills

More information

Unit 3 - Financial Services

Unit 3 - Financial Services Unit 3 - Financial Services Credit Unions vs. Banks Banks For profit companies owned by shareholders Offer services to everyone who wants to apply Owned by shareholders; customers do not vote Deposits

More information

Welcome to. Banking in your best interest. A HELPFUL GUIDE FOR GCF BANK CUSTOMERS

Welcome to. Banking in your best interest. A HELPFUL GUIDE FOR GCF BANK CUSTOMERS Welcome to Banking in your best interest. A HELPFUL GUIDE FOR GCF BANK CUSTOMERS Welcome to Investors Bank! We re So Pleased to Welcome Our GCF Bank Customers into the Investors Bank Family! As a loyal

More information

Checking Savings Investments

Checking Savings Investments Checking Savings Investments Checking Account 90% of transactions involving money are made with checks. What is a check? When opening a checking account at a financial institution the customer enters into

More information

Accounts payable Money which you owe to an individual or business for goods or services that have been received but not yet paid for.

Accounts payable Money which you owe to an individual or business for goods or services that have been received but not yet paid for. A Account A record of a business transaction. A contract arrangement, written or unwritten, to purchase and take delivery with payment to be made later as arranged. Accounts payable Money which you owe

More information

Cash Access Account. A Total Cash Management Program

Cash Access Account. A Total Cash Management Program Cash Access Account A Total Cash Management Program Multiple Services in a Single Account The Cash Access Account (CAA) helps you make the most of your time and your money with an integrated, easy-to-use

More information

Banking Test - MoneyPower

Banking Test - MoneyPower Banking Test - MoneyPower Multiple Choice Identify the choice that best completes the statement or answers the question. 1. If a person makes a deposit of $10,000 or more into a bank account, the bank

More information

Vocabulary Financial Institutions Student Worksheet

Vocabulary Financial Institutions Student Worksheet Vocabulary Student Worksheet Page 1 Name Period Primary 1. Bounced Check: Vocabulary Financial Institutions Student Worksheet 2. ATM Charge: 3. Stop Payment Fee: 4. Travelers Checks: 5. ATM: 6. FDIC: 7.

More information

GUIDE TO THE SURVEY FINANCIAL BALANCE STATISTICS

GUIDE TO THE SURVEY FINANCIAL BALANCE STATISTICS 1(16) GUIDE TO THE SURVEY FINANCIAL BALANCE STATISTICS 1 GENERAL INFORMATION... 3 2 DEFINITION OF DATA... 3 2.1 Positions... 3 2.2... 3 2.3... 4 3 DEFINITION OF VARIABLES... 4 3.1 Financial assets... 4

More information

Local Small Business Banking

Local Small Business Banking Local Small Banking Directions Credit Union 3 types of small business checking accounts: -Free: Great for businesses with very low transaction volumes and those who don t want to keep a minimum balance.

More information

Managing Your Liquidity

Managing Your Liquidity 2P A R T Managing Your Liquidity Chapter 5 Banking and Interest Rates What bank services are most important to you? Which financial institution will provide the best bank services for you? Chapter 6 Managing

More information

BestBank Business Account Disclosure The information described is accurate as of September 1, 2015. Member FDIC

BestBank Business Account Disclosure The information described is accurate as of September 1, 2015. Member FDIC BestBank Business Account Disclosure The information described is accurate as of September 1, 2015. Member FDIC Disclosures Regarding Electronic Wholesale Credit Transactions Subject to Uniform Commercial

More information

Kitsap Credit Union Membership

Kitsap Credit Union Membership Membership Benefits Kitsap Credit Union Membership Kitsap Credit Union is your local, not for profit financial co-op. As a co-op, we work towards the best interest of our members. Since 1934 we ve been

More information

BANKING FOR SUCCESS PRE-CLASS YOUR NAME: DATE:

BANKING FOR SUCCESS PRE-CLASS YOUR NAME: DATE: BANKING FOR SUCCESS PRE-CLASS YOUR NAME: DATE: Please answer the following questions for us it will help us learn more about the problems our participants face so that we can make the classes better. Please

More information

Credit 100 understanding credit

Credit 100 understanding credit Credit 100 understanding credit An investment in knowledge always pays the best interest. Franklin D. Roosevelt Credit 100 1 Credit can open doors to buying a home or a car. But it can also lead to significant

More information

Lecture Notes on MONEY, BANKING, AND FINANCIAL MARKETS. Peter N. Ireland Department of Economics Boston College. irelandp@bc.edu

Lecture Notes on MONEY, BANKING, AND FINANCIAL MARKETS. Peter N. Ireland Department of Economics Boston College. irelandp@bc.edu Lecture Notes on MONEY, BANKING, AND FINANCIAL MARKETS Peter N. Ireland Department of Economics Boston College irelandp@bc.edu http://www2.bc.edu/~irelandp/ec261.html Chapter 9: Banking and the Management

More information

Please do not hesitate to call if you have any questions as you fill out our questionnaire. Feel free to attach additional sheets if necessary.

Please do not hesitate to call if you have any questions as you fill out our questionnaire. Feel free to attach additional sheets if necessary. Franchise Application PAGE 1 OF 5 Partners must complete separate applications. Personal Information NAME SOCIAL SECURITY # ADDRESS CITY STATE ZIP HOME PHONE WORK PHONE (IF OK TO CONTACT YOU HERE) CELL

More information

FAQ What do I need to do right now? How can I tell how much non-bank Asset Backed Commercial paper exposure I have in my pension account?

FAQ What do I need to do right now? How can I tell how much non-bank Asset Backed Commercial paper exposure I have in my pension account? FAQ What do I need to do right now? You don t need to do anything right now. We are letting members know about this plan to get feedback. If you want to provide feedback please direct it to -hrcommunication@uwo.ca.

More information

lesson twelve saving and investing overheads

lesson twelve saving and investing overheads lesson twelve saving and investing overheads pay yourself first (a little can add up) example 1: Save this each week At % Interest In 10 years you ll have $7.00 5% $4,720 14.00 5% 9,440 21.00 5% 14,160

More information

1. When setting financial goals it is important for you to know all of the following EXCEPT?

1. When setting financial goals it is important for you to know all of the following EXCEPT? 187 Name Date 1. When setting financial goals it is important for you to know all of the following EXCEPT? a. How much money you make in a week b. How much what you want costs c. How many other people

More information

Balanced fund: A mutual fund with a mix of stocks and bonds. It offers safety of principal, regular income and modest growth.

Balanced fund: A mutual fund with a mix of stocks and bonds. It offers safety of principal, regular income and modest growth. Wealth for Life Glossary Aggressive growth fund: A mutual fund that aims for the highest capital gains. They often invest in smaller emerging companies that offer maximum growth potential. Adjustable Rate

More information

First Federal s Services and Products

First Federal s Services and Products Personal Banking Checking & Saving First Federal s Services and Products Evergreen Checking No First Federal fees for ATM use at any MoneyPass ATMs Free Online Banking and Bill Pay No minimum balance No

More information

Truth-In-Savings Disclosure

Truth-In-Savings Disclosure Truth-In-Savings Disclosure EFFECTIVE JULY 1, 2008 SHARE/SAVINGS ACCOUNT Rate Information: The dividend rate and annual percentage yield may change every quarter. We Dividend period - For this account

More information

COMPARATIVE BALANCE SHEET Balances as of December 31, COMPARATIVE STATEMENT OF INCOME For the year ending December 31,

COMPARATIVE BALANCE SHEET Balances as of December 31, COMPARATIVE STATEMENT OF INCOME For the year ending December 31, COMPARATIVE BALANCE SHEET Balances as of December 31, ASSETS 2008 2007 Unsecured Loans 5,085,192 4,444,349 Mortgage/Home Equity Loans 11,949,860 10,429,249 New and Used Vehicle Loans 16,456,915 18,233,688

More information

CONSUMER DEPOSIT ACCOUNT TERMS AND CONDITIONS

CONSUMER DEPOSIT ACCOUNT TERMS AND CONDITIONS CONSUMER DEPOSIT ACCOUNT TERMS AND CONDITIONS WELCOME TO M&T A GUIDE TO THE TERMS OF YOUR PERSONAL DEPOSIT ACCOUNTS This section includes information about the names and features of your deposit accounts

More information

What is loyalty banking?

What is loyalty banking? What is loyalty banking? Loyalty Banking is a rewarding new way to bank with Iowa State Bank! Now you can earn bonus rates on your deposits, discount rates on your loans, plus other valuable benefits on

More information

Great Rates & CASH Back As much as $300! Did you know Peach State Federal Credit Union offers:

Great Rates & CASH Back As much as $300! Did you know Peach State Federal Credit Union offers: Great Rates & CASH Back As much as $300! Cruise on into Peach State Federal Credit Union and refinance your vehicle loan that s financed with another lender. With rates as low as 1.9% APR*, we ll match

More information

The How To Guide To Managing Your Money Make the most of your finances

The How To Guide To Managing Your Money Make the most of your finances The How To Guide To Managing Your Money Make the most of your finances getting started welcome Have you been considering a new bank account, buying a home, or perhaps starting to invest? If so, you have

More information

SMALL BUSINESS BANKING SERVICES

SMALL BUSINESS BANKING SERVICES S M A L L B U S I N E S S B A N K I N G SMALL BUSINESS BANKING SERVICES A History of Working Hard for America s Workers Amalgamated Bank is a full-service banking institution that offers a comprehensive

More information

TRUTH IN SAVINGS AGREEMENT AND DISCLOSURE

TRUTH IN SAVINGS AGREEMENT AND DISCLOSURE TRUTH IN SAVINGS AGREEMENT AND DISCLOSURE ESSENTIAL CHECKING ACCOUNT deposit $50 to open this account. BENEFITS CHECKING Rate Information Your interest rate and annual percentage yield may change. Frequency

More information

PERSONAL CHECKING ACCOUNT

PERSONAL CHECKING ACCOUNT Bank Services 5100 S. I-35 Svc. Rd. P.O. Box 95329 OKC, OK 73129 OKC, OK 73143 Phone: 405.672.7831 Fax: 405.670.5622 24 Hour Account Information Line: 405-670-0369 Banking Hours: Lobby Mon-Thurs 9:00 5:00

More information