check it out. 2 you will know the benefits of using a credit union or bank vs. using a check...
TRANSCRIPT
Check It Out
2
You Will Know The benefits of using a credit
union or bank vs. using a check cashing service
Types of fees Types of checking accounts How to open a checking account How to write checks How to use ATM and debit cards How to keep records How to reconcile an account
3
Benefits of Checking Accounts
Benefits of Checking Accounts
Convenience Cost
Budgeting Safety
4
Fee ScheduleFriendly Federal Credit Union
Schedule of Fees for ABC Checking Account**
Monthly Service Fee This fee is waived if you keep a
$500 minimum daily balance.
$2
FFCU Fees for ATM Transactions at Friendly Federal Credit Union ATMs
Non-Friendly Federal Credit Union ATMs
Owners of Non-FFCU ATMs may charge a fee
FREE
FREE
Overdraft, Insufficient Funds
$20 per item
Stop Payment Requests
$15 per item
**Note: This is only a small section of a fee schedule.
5
Types of Checking Accounts at Credit Unions and Banks
Low-cost checking ATM checking Regular checking Special Dividend or Interest
checking
6
Check Register
CheckNumber
Date Description of Transaction Payment/Debit (-)
Fee Deposit/Credit (+)
Balance
31 4 65 72
7
Check Register
Check
Number Date Description of Transaction Payment/
Debit (-) Fee Deposit/
Credit (+) Balance
2/ 20 Opening Deposit $ $200 00 $200 00
105 2/ 26 Coff ee Mart 19 75 19 75
180 25
3/ 12 ATM 100 00 100 00
80 25
3/ 22 Deposit 30 00 30 00
110 25
3/ 23 Deposit 50 00 50 00
160 25
3/ 23 Cash Back f rom Deposit 25 00 25 00
135 25
3/ 18 Monthly Fee 2.00 2 00
133 25
8
Sample Check
YOUR NAMEYOUR ADDRESS
YOUR PHONE NUMBER
PAY TO THE ORDER OF
105
00-6879 770
Dollars
FINANCIAL INSTITUTION Your City, State, Zip Code
:00000000 : 0000 0000 0 000 0 0.:
Memo
$
Date:_______
12 3
4 5 6
7 8 9
1011
9
The Back of a Check
INDORSE HERE
DO NOT WRITE, STAMP OR SIGN BELOW THIS LINERESERVED FOR FINANCIAL INSTITUTION USE *
10
Sample Checks
YOUR NAMEYOUR ADDRESS
YOUR PHONE NUMBER
PAY TO THE ORDER OF
105
00-6879 770
Dollars
FINANCIAL INSTITUTION Your City, State, Zip Code
:00000000 : 0000 0000 0 000 0 0.:
Memo
$
Date:_______
YOUR NAMEYOUR ADDRESS
YOUR PHONE NUMBER
PAY TO THE ORDER OF
105
00-6879 770
Dollars
FINANCIAL INSTITUTION Your City, State, Zip Code
:00000000 : 0000 0000 0 000 0 0.:
Memo
$
Date:_______2/26
Coffee Mart
Nineteen and 75/100
19.75
Your signaturecoffee maker
11
ATM
3
4
21
Automatic Teller Machine
12
Sample Deposit Slips
Your NameYour Address
Your Phone Number
DE
PO
SIT
T
ICK
ET
DATE DEPOSITS MAY NOT BE AVAILABLE FOR IMMEDIATE WITHDRAWAL
SIGN HERE IF CASH RECEIVED FROM DEPOSIT
YOUR FINANCIAL INSTITUTION
YOUR CITY, STATE Zip Code
DO NOT USE FOR AUTOMATIC PAYMENT OR CHECK
TRANSACTIONS
:00000000 : 00000 00000.:
CURRENCY
COIN
CHECKS
OR TOTAL FROM REVERSE
SUBTOTAL
LESS CASH RECEIVED
NET DEPOSIT
Your NameYour Address
Your Phone Number
DE
PO
SIT
T
ICK
ET
DATE DEPOSITS MAY NOT BE AVAILABLE FOR IMMEDIATE WITHDRAWAL
SIGN HERE IF CASH RECEIVED FORM DEPOSIT
YOUR FINANCIAL INSTITUTION
YOUR CITY, STATE Zip Code
DO NOT USE FOR AUTOMATIC PAYMENT OR CHECK
TRANSACTIONS
:00000000 : 00000 00000.:
CURRENCY
COIN
CHECKS
OR TOTAL FROM REVERSE
SUBTOTAL
LESS CASH RECEIVED
NET DEPOSIT
3/2230
30 0
0 0
0
13
Sample Deposit Slips
Back of Deposit Slip
EN
TE
R T
OT
AL
ON
TH
E F
RO
NT
OF
TH
IS
TIC
KE
T
Cen
tsD
ollars
Ch
ecks
Lis
t si
ng
ly
1 2 3 4 5 6 7 8 9 10
11
12
13
14
15
16
TO
TA
L
Your NameYour Address
Your Phone Number
DE
PO
SIT
T
ICK
ET
DATE DEPOSITS MAY NOT BE AVAILABLE FOR IMMEDIATE WITHDRAWAL
SIGN HERE IF CASH RECEIVED FROM DEPOSIT
YOUR FINANCIAL INSTITUTION
YOUR CITY, STATE Zip Code
DO NOT USE FOR AUTOMATIC PAYMENT OR CHECK TRANSACTIONS
:00000000 : 00000 00000.:
CURRENCY
COIN
CHECKS
OR TOTAL FROM REVERSE
SUBTOTAL
LESS CASH RECEIVED
NET DEPOSIT
3/23Your
Signature
50
2525
0 0
0 00 0
14
Your Financial Institution Street Address City, State Zip
Your Name
Street Address City, State Zip
Account Number 0000000000
Summary of Account Activity For period ending 3/20 Date of last statement 2/20
Date Transaction Description Withdrawal/
Deposit Amount Balance
2/20
Opening Balance Deposit
200.00
200.00
2/26 Check #105 -19.75 180.25 3/12 ATM Withdrawal -100.00 80.25 3/18 Monthly Fee -2.00 78.25
Cleared Checks Check # 105
Amount 19.75
Summary
Previous Total Total No. of No. ATM No. of Service New Balance Deposits Withdr. Checks Transactions Deposits Charge Balance $200.00 $0 $124.75 1 1 0 $2.00 $78.25
Checking Account Statement
76
5
4321
15
Reconciling Your Account
WITHDRAWALS OUTSTANDING - NOT CHARGED TO ACCOUNT
Financial Institution
balance shown on this statement
$
Check Number Check Amount
$
Total $
$
$
$
Balance $
* This balance should agree with balance in your check register.
Total $
Subtract withdrawalsoutstanding
Add deposits outstanding
75.25
25.0050.25
30.0050.00
130.25
0.00