What is a Credit Union? A credit union is very similar in nature to a regular bank with a few key differences. In a credit union, the member of the said unions are also partial owners of the credit union. Credit unions are actually non-profit institutions that are typically meant to cater to certain groups…
What is a credit score? A credit score is a score tied to your social security number. This number is based on how much “debt” a person uses in their day-to-day life and how good a person is at paying back said debt. One of the most common ways to build up a person’s credit…
What is an interest rate? Interest rates are the rates at which you earn money with things like savings accounts, checking accounts, dividends, and etc. They are also the rates at which the amount of money that you owe on things like various types of loans and other debts increases. Most interest rates are what…
What is a savings account? A savings account is a type of account that you can open in a financial institution like a bank or credit union. This type of bank account allows you to deposit money to be stored safely in a bank for you. Savings accounts also typically earn more interest than checking…
What is a checking account? A checking account is a type of account that you open with a financial institution like a bank or credit union that allows you to deposit your money to be held with them and can withdraw it at any time. Checking accounts allow people to access the money held in…
What is a credit card? A credit card is similar to a debit card that comes with a checking account in that in so far as they are both relatively small cards that are usually plastic and are linked to your bank account in order to take money out of your checking account after you…
