Financial Economics Question Paper

 Answer: Bank of America because it just seem more reliable to me. It’s more of a savings account bank than a checking account bank.

1. Visit the website of a large national bank, regional bank, or credit union, and use the information you find there to answer the questions below. EXAMPLE: Some large banks you might consider include Bank of America®, JPMorgan Chase®, Wells Fargo®, Citibank®, and U.S. Bank®.

Choosing the right financial institution to house your finances is imperative at any age or stage in your life. Just as life presents changing circumstances, in most cases your money goals and needs will fluctuate with each event. Banks and Credit Unions both allocate financial services to shelter several of your financial needs. Electing to conduct business with either a bank verses a credit union or even both is clearly only a decision that only you can make. However, implementing best practices to manage your money and its longevity is a daily habit that will mold your money management skills for the better. Taking into consideration the thought that the world is divided into two common areas of concerns, health and finances. The reason being are both have an impact on oneself and those that depend on the condition and performance of your health and finances. For those two reasons knowing your options will aid in guiding you to institutions the most adequate decision for your financial picture. Here are a few thoughts to consider before making a choice.

b. List three differences you found between the accounts and features this bank or credit union offers and the bank from question 1 above. (1-3 sentences. 1.0 points)

After reading provided documents my goal is to determine your financial strengths and weaknesses and suggest different

2. Visit the website of a second large national bank, regional bank, or credit union, and use the information you find there to answer the questions below.

Based on your calculations above, which of the two banks would you recommend and why? Explain your rationale.

■Financial co-operatives. These organizations operate much like banks, accepting deposits from members, giving loans, and providing chequing services (e.g., credit unions).

9. How do the primary risks of credit unions differ from banks? From savings institutions (SIs)? From finance companies?

All questions are worth five (5) points. If there are any graphs on the test, then leave

Lending institutions have been around since the late 1700’s. Banks are establishments that are authorized by the government to accept deposits, pay interest on deposits, clear checks, make loans, act as an intermediary in financial transactions and provide other financial services to customers.

The three banks that I researched for this project included Lake City Alliance Bank, Lake City Federal Bank, and Think Bank (Rochester). I looked at the consumer fee schedules, banking services, and hours of each bank and compared a variety of different rates specific to each bank. My research allowed me to lower down my choices and pick the bank that I believed was right for me.

Consumer Banking is the side that most people are familiar with and serves retail customers and small businesses with annual revenues of up to $25 million, through its network of branches. Consumer banking products and services include deposit products, mortgage and home equity lending, student loans, auto financing, credit cards, business loans, wealth management and investment services.

Simply putting, banks accept deposits from public; keep some of those deposits with them and lend the rest to businesses and individuals. Businesses and individuals in turn pay interest on

Normally banks offer a suite of services over and above taking deposits and lending money, but Non-banking financial Services Company could offer similar service in some extent like insurance, mutual funds or fixed income securities. In the case of lending sides, bank also faces unconventional companies like General Motor, Sony or Microsoft offer preferred financing to customers who buy big items with relatively low cost.