Question

In this lesson, you learned about banks and similar financial institutions. This is an important step on the road to an adult understanding of handling money, but it's only one step. What are three questions you have about banks, credit unions, or savings and loan associations that weren’t answered in this economics lesson? Where might you get the answers to your questions? Give your responses to these questions in the form of a paragraph of no fewer than five sentences.

Answer 1

How much do you get paid? If you get loaned and you die before giving the money back will it count?

Answer 2

Just banks are secured by the FDIC, yet we are canvassed in equivalent sums by the legislature financed NCUA. The U.S. is one of just 113 nations worldwide to appreciate such assurance, which offers free genuine feelings of serenity to anybody working a financial records, bank account, currency showcase store record, or CD (otherwise called Certificates of Deposit) accounts in measures of up to $250,000. Some of the time, higher sums are safeguarded relying upon the record possession and whether qualified recipients are recorded.

Ask us. You may acquire inclusion relying upon the kind of store account, account proprietors, and whether qualified recipients are included. While we should produce some benefit for overhead and development, our fundamental objective is administration to the network. Regardless of whether that implies better store and credit rates or next to zero cost banking administrations, we exist to serve our networks and add to territory supportability. In contrast to banks, we aren't required to give a major part of benefits to investors and we can offer little close to home credits. Credit associations were established so network individuals could pool investment funds to give advances to other people, and that dedication hasn't change.

Step-by-step explanation:

Edge 2021