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What's the difference between a commercial bank,
a credit union and a thrift? And which one is right for you?
Banking is changing, perhaps more than ever before.
Commercial banks can now offer insurance or investment products
in addition to checking and savings accounts. Online banking is
growing rapidly as a convenient way to manage an account. Thrifts
offer more than loans and mortgages. And credit unions are proliferating,
often offering the highest interest rates on deposits and lower
rates on loans. You'll also learn how to make a complaint and how
the FDIC protects your money.
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What you can expect to learn from this chapter: |
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Types
of banking institutions |
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The different types of banks
you can use -- commercial banks, credit unions, online
banks and thrifts (savings and loans) -- are explained
in this section. |
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Whom
to complain to, and how |
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Follow these steps when
you want to complain to your bank, and you may have a
better chance for a happy resolution. |
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How
the FDIC protects your money |
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An explanation of how the
Federal Deposit Insurance Corporation protects the money
you've got in your bank -- and what it doesn't protect.. |
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Chapter
6 quiz |
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Test your knowledge about
banking institutions. |
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Chapter 6: Banking institutions
