Money Management Guide
The 10 most important concepts to money management!
1. Depository institution – businesses that provide financial services
2. There are two main types of Depository institutes known as:
commercial banks which are a for profit, Open to anyone who wants to utilize a depository institution Offer numerous financial services. Usually the largest depository institutions.
Credit unions which are a non-profit, Have membership qualifications – members must share a “common bond”. Offer many services but usually not as many as a bank Are often able to pay higher interest rates and charge lower fees