Consumer Loan Comparison:



|Name: |

|APY |Annual Percentage Yield. The APY is a measure of the interest expressed as a yearly interest rate. Usually, the |

| |higher the APY, the more interest you will earn. |

|Minimum balance to open: |The lowest amount an institution requires when opening an account. |

|Minimum balance to avoid fees: |How much must be kept in the account based on agreement terms. If the account goes below this amount, a charge is |

| |levied. |

|Monthly fees: |Fee charged to customers under the terms of the account. |

|Nonsufficient funds (NSF) fees: |The amount of money charged to an account holder whose account did not have enough funds available to pay a check |

| |or debit expense. (The bank did not advance the funds to cover a check.) |

|Fees to use another bank’s ATM: |charge for using an ATM that is not owned by the account holder’s bank. |

|Online access: |Whether or not the bank allows you to access your account information online. |

Consumer Loan Comparison:

Using: creditunion.coop/ratedex.php, research and fill in the Consumer Loan rates below:

|Type of Consumer Loan |Credit Union Average % |Bank Average % |

| | | |

|5 Year New Car Loan | | |

| | | |

|4 Year Used Car Loan | | |

| | | |

|4 Year Unsecured | | |

|Personal Loan | | |

|Why do you think used car rates are higher? | |

|What is an unsecured loan? | |

|Which type of institution has the best rates? | |

|Why do you think that is? | |

Savings Comparison:

Using: creditunion.coop/ratedex.php research savings rates comparing Bank versus Credit Union, and a “teaser” rate (only from the Credit Unions)

|Type of Savings Account |Credit Union Average % |Bank Average % |

| | | |

|Personal Savings | | |

| | | |

|Money Market | | |

|(Personal MMDA) | | |

|Promotional “Teaser” Rates |% APY |Qualifications |

|What is a “Teaser” Rate? | |

|SECU – School Employees Credit Union | | |

| | | |

|BECU – Boeing Employees Credit Union | | |

| | | |

Checking Account Comparison:

Using , research four different checking account offers (traditional vs. online, interest vs. non-interest accounts:

|Name of Institution |APY |

| |(Annual Percentage Yield) |

|What does interest checking | |

|require a minimum balance? | |

|Which of the above accounts | |

|would you choose and why? | |

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