Across
- 3. Not-for-profit institutions that are co-owned by their members who make decisions democratically. Typically offer all of the same services as traditional banks.
- 5. An account at a bank that allows a customer to deposit money.
- 7. Every two weeks.
- 9. Twice a year, or every 6 months.
- 11. Withdrawals from a bank account.
- 12. Deposits into a bank account.
- 13. Four times a year, or every 3 months.
- 16. Interest that is calculated on the principal in an account using the formula I = Prt.
- 17. An asset or item acquired with the goal of generating income or appreciation.
- 18. Two times per month.
- 19. Twelve times per year.
- 20. The percentage rate that is paid by a bank on money that is in some accounts.
Down
- 1. An account in which the bank pays interest for the use of the money deposited in the account.
- 2. The initial balance, or initial amount of money, in an account, or amount initially borrowed.
- 4. Interest that is earned on the money deposited into an account plus previous interest.
- 6. A certificate that states there is a specific sum of money on deposit and guarantees the payment of a fixed interest rate after a certain period of time, usually 7 days to 10 years.
- 8. This protection pays a check even though there are not enough funds in the account; there is a fee for this service and the money must be repaid.
- 10. Once a year.
- 14. People who don't have an account at a bank or a credit union may use this to get money quickly, but a high risk.
- 15. An account that pays higher interest rate than other types of accounts, but usually requires a higher initial deposit and a higher minimum balance, often with a limit on the number of transactions per month.