More Notes Flashcards
0
Q
In 1989 following the S&L crisis the ___ was abolished and the FDIC BEGAN INSURING S&Ls
A
FSLIC
1
Q
___ began in the US in the 1830s that was originally chartered by individual states as mutual societies
A
Savings and loans association
2
Q
The idea for credit unions began in ___ in the mid 1800s
A
Europe
3
Q
____ created a system of federally chartered credit unions
A
The federal credit union act of 1934
4
Q
The major difference between credit unions and other financial institutions is that credit unions have
A
Membership requirements
5
Q
Banks are places where money can be _____
A
Bought and sold
6
Q
By using these services customers are able to do three things
A
Store money
Earn money
Borrow money
