Instructor and student introductions

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Introduction

• Instructor and student introductions
• Module overview

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Student Introductions

• Your name
• Your expectations, questions, and concerns about
  banking.

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Purpose

• Bank On It
• Is an overview of banking services.
• Will help you build a positive relationship with
  banks, thrifts, and credit unions.

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Objectives

• By the end of this module, you will be able to
• Identify the major types of insured financial
  institutions.
• Identify five reasons to use a bank.
• Describe the steps involved in opening and
  maintaining a bank account.

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Objectives (Continued)

• Describe two types of deposit accounts.
• Identify additional bank services that come with
  deposit accounts.
• Describe the main functions of the bank customer
  service representative, teller, loan officer, and
  branch manager.

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Agenda and Ground Rules

• 60 90 minutes long
• One 10-minute break
• Training methods
• Class participation

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Bank

• A business that
• Offers you a safe place to keep your money.
• Uses your deposits to make loans.
• Provides a variety of services.
• Also called a financial institution.

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Why Keep Money in a Bank?

• Safety
• Convenience
• Cost
• Security
• Financial future

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Types of Financial Institutions

• Banks
• Credit unions
• Thrifts

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Opening and Maintaining a Bank Account

• Steps
• Open the account and go through account
  verification.
• Make deposits and withdrawals.
• Record interest and fees.
• Keep track of your account balance.

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Account Verification

• The bank
• Reviews your credit and past banking history.
• Checks your photo identification.
• Determines if you can open an account.
• Now you can deposit your money!

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Deposit

• A deposit is money you add to your account using
  a deposit slip.

Your Name Your Address Your Phone Number
CURRENCY
COIN
DATE
DEPOSIT TICKET
DEPOSITS MAY NOT BE AVAILABLE FOR IMMEDIATE
WITHDRAWAL
OR TOTAL FROM REVERSE
SIGN HERE IF CASH RECEIVED FROM DEPOSIT
SUBTOTAL
YOUR FINANCIAL INSTITUTION YOUR CITY, CA 92453
LESS CASH RECEIVED
DO NOT USE FOR AUTOMATIC PAYMENT OR CHECK
TRANSACTIONS
NET DEPOSIT
000000 12345 67890.
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Balance

• The balance is the amount of money you have in
  your bank account.

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Withdrawal

• A withdrawal is money you take out of your
  account using
• Checks
• Withdrawal slips
• ATMs
• Check/debit cards

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Fees

• Banks deduct fees from your account for
• Certain services (monthly maintenance fee).
• Penalties (for bouncing a check).

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Interest

• Interest is a percentage of your balance that the
  bank pays you for keeping your money at that
  bank.

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Practice Exercise

• Instructions
• Read the scenario.
• Answer the question.

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Deposit Accounts

• Accounts that let you add money to the account
• Checking accounts let you write checks to pay
  bills or buy goods.
• Savings accounts always earn interest.

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Non-deposit Accounts

• These accounts are NOT FDIC-insured.
• Stocks
• Bonds
• Mutual funds

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Additional Banking Services

• Direct deposit
• Money order
• Online and telephone
• banking
• Automated Teller
• Machine (ATM)

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Additional Banking Services(Continued)

• Money transfer
• Debit card
• Stored value cards
• Loan

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Privacy Notices

• Notices that companies involved in financial
  transactions must send you. They explain
• What personal financial information is
  collected.
• If they intend to share it.
• How to limit the sharing.
• How your personal financial information is
  protected.

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Opting Out

• You can opt out by
• Reading the privacy notice to find out how.
• Calling 1-888-5-OPTOUT (1-888-567-8688).
• Visiting www.optoutprescreen.com.

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Important Bank Employees

• Get to know these important bank employees
• Customer service representative
• Teller
• Loan officer
• Branch manager