5 - Financial Services

Banking Basics

Activity: Banking Basics.pdf

1. Choosing a Checking Account.doc

2. Checkbook Register.xlsx

3. Check Register Analysis.doc

4. Bank Statement Analysis.doc

5. Balancing Your Checkbook.doc

6. Banking Basics Quiz.doc

Banking Resources

Bank Products: What is Insured and What is Not

FederalReserveEducation.org

History of the Federal Reserve

Structure & Functions

Monetary Policy Basics

Federal Reserve in Plain English (video)

Federal Reserve in Plain English (site)

Fun Facts About Money

Federal Deposit Insurance Corporation (FDIC)

FDIC: Banking & Your Money

FDIC: Safe Internet Banking

FDIC: Bank Find (Is this bank insured?)

National Credit Union Administration (NCUA)

Finding the Right Financial Institution

5 Tips: Protecting Your Checking Account

Avoid Overdraft & Bounced Check Fees

USA.gov: Consumer Protection Guide

How to file a complaint about a bank

Is it safe to bank by cell phone? (article)

BankRate.com

Essential Question

What financial institution will best meet the needs of the individual or household?

Key Vocabulary

Instructional Objectives

A: Identify deposit, credit and investment services offered by commercial banks, savings

and loans, credit unions and brokerage firms.

B: Compare checking accounts from different institutions.

C: Prepare the following forms related to opening and maintaining a checking account:

• Application form.

• Deposit ticket.

• Check.

• Check register.

• Reading and reconciling a monthly statement.

D: Differentiate among various types of electronic banking services and smart cards.

E: Explain the roles and responsibilities of the Federal Reserve System.

Theme Rationale

Most people in the United States use banks for a variety of services. However, millions of U.S. citizens and residents are unbanked. Banks and other financial institutions provide safety and security for consumers’ financial assets and offer an opportunity to earn interest. It is essential that students know how to access these services, understand the variety of financial institutions from which to choose and the benefits of each.