9.FINANCIAL INSTITUTIONS

A financial institution always keeps all of your money in the vault.

False

Jen heard that the bank where she kept her money was going to close for good. Jen said she wasn't worried. Select the most likely reason that Jen wasn't worried.

She knew that her money was insured by the FDIC.

Match the terms to their definition.

bank - a business and financial institution; a safe place to keep your money credit union - a nonprofit financial institution formed by a large corporation or organization for their employees and members financial institution - a public or private organization that collects and invests money and offers financial services savings and loan - a financial institution that specializes in home loans

A financial institution formed by a large corporation for their employees or members is a _____.

credit union

The main types of financial institutions are _____.

savings and loans banks credit unions

When selecting a financial institution that is the best for you, you should consider _____.

services offered locations of banks and ATMs minimum balance fees