Personal Finance Banks

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					Personal Finance Section

Financial Institutions
and Services
Personal Finance Section
   If you have money, your going to
    need the services of a bank or
    credit union – to save money, to
    manage it, and transfer it to others.
   If you need money, a bank can lend
    it to you.
Personal Finance Section
   We have many, many banks in
    Pearland, TX
   What are the differences between
    each bank?
   How do you choose a bank?
Personal Finance Section
   Types of Financial Institutions
       A bank is an institution for
    receiving, keeping, and lending
    money.
   Four basic types of banks:
       Commercial Banks – provides the most
        services and plays the biggest role in
        our economy.
Personal Finance Section
   Four basic types of banks:
       Savings & Loan Associations – traditionally
        accepts deposits and specializes in offering
        long-term financing for homes.
       Savings Banks – accept deposits and specialize
        in low-risk investments, such as government
        bonds.
       Credit Unions – are nonprofit banks owned by
        their members, usually employees of a single
        organization such as a company or trade
        union.
Personal Finance Section
   Other Financial Institutions
       Mutual Fund Companies
       Brokerage Firms
       Insurance Subsidiaries – offer tax-
        deferred saving plans
Personal Finance Section
   Review
        How does a commercial bank differ
    from a savings and loan association?
        How does a commercial bank differ
     from a credit union?
Personal Finance Section
   Banking Services:
       Automated Teller Machines ATM
       Debit Cards
       Credit Cards – usually from larger banks
       Overdraft privileges
       Electronic Banking – from a computer
       Direct Deposit
       Automatic Withdrawal – bill paying plan
       Wire Transfer – paycheck put into account
       Business and Consumer Loans
       Investment Services
       Safe Deposit Boxes

				
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