Financial Institutions

3.5.1 Enrichment

Commercial Banks

  • Are "for-profit" organizations
  • declared earnings are paid to stockholders only
  • Insured by the FDIC
  • You need to use their ATMs to access your money (If you're with Wells Fargo you go to the Wells Fargo ATMs
  • Nearly twice as big as credit unions

Credit Unions

  • Are for profit
  • Open to everyone
  • Are "not-for-profit"
  • Operated to benefit members
  • Insured by the NCUA

Both Are Guaranteed To Keep Your Money Safe

What Services Do They Offer?

  • Special Needs Payment Instructions
  • Safe - Deposit boxes
  • Financial Advice
  • Transactions and savings tools
  • Credit

Citations

"Bank of America — Banking, Credit Cards, Mortgages and Auto Loans." Bank of America — Banking, Credit Cards, Mortgages and Auto Loans. N.p., n.d. Web. 18 Sept. 2016.


Foundation, The Philadelphia. "The Building Financial Futures Fund." The Building Financial Futures Fund. N.p., n.d. Web. 18 Sept. 2016.


Dansante, Soirée, and Ckeditor-widgets.albatrossdemos.com. "Financial Planning Advice - How to Make Sure That You Build a Good Future - Make Money and Money Saving Tips: Credit Cards, Shopping, Bank Charges, Insurance and More." Make Money and Money Saving Tips Credit Cards Shopping Bank Charges Insurance and More. N.p., 2015. Web. 18 Sept. 2016.