Part 1 Review Questions

  1. Question

    How do banks make money?

  2. Question

    Describe the similarities and differences between commercial banks and credit unions. Why do you think someone would choose one over the other?

  3. Question

    In your own words, describe why it’s better to keep your money in a financial institution instead of holding large amounts of cash.

  4. Question

    Give several reasons why someone would open more than one type of bank account.

  5. Question

    Come up with at least five questions you should ask before deciding to put your money in a financial institution.

Project

Find and research several kinds of banks in your area. How many savings and loan associations, commercial banks, and credit unions are in your town? Speak to the manager of each financial institution. Approximately how many customers does each have? What services do they provide their customers? How do they attract new customers?