Financial Institutions

List various services offered by financial institutions

Describe how financial institutions are important to the business world and the economy

Explain how businesses rely on banks and other financial institutions for specific services and products

Lesson Objectives

Bank Cooperative Credit Union Insurance Company Investment firms Savings and Loan Thrift

Key Vocabulary

Banks◦ Take 1 minute as a group write down as many

words and ideas you can associate with banks. Insurance Companies Savings and Loans/Thrifts Investment Firms Credit Unions

Financial Institutions

What are the three most important words or ideas associated with each institution?

While discussing their charts, explain to the students that financial institutions are an integral part of the financial marketplace

Their role in business and industry is important not only to the economy but also to an individual’s well-being.

Financial Institutions

Download- Anticipation Guide: Financial Institutions◦ Complete the first two sections of all the

questions. Do NOT complete the I learned section yet

Download- Reading: Financial Institutions◦ Revise the anticipation guide and add words or

phrases to your descriptions

Financial Institutions

Assign students to identify one bank and one credit union, that is local to their area. Have students write the address and other contact information for each institution and then identify specific services offered by the financial institutions.

Enrichment

Download- Assignment: Acrostic Poem◦ How does the example at the bottom:

Meet the requirements for this assignment? In this example, what did the author do well?

Work as a group to create ideas but each individual will turn in a poem

Acrostic Poem

Based on what you have learned, which financial institution do you think is the most important to a business? Explain your reasoning.

Services provided by financial institutions are essential to businesses of all sizes

From basic banking products to services that provide businesses with capital, companies rely on financial institutions for assistance with their monetary affairs.

Financial Institutions

Social Studies: Ask students to research an international financial institution such as the World Bank or the International Monetary Fund. Have students study the history, organization, and purpose of each institution and then report their findings to the class.

Cross-Curricular Integration

Technology: Have students investigate the different ways that technology has changed the financial services industry. What are the implications for individuals starting careers in this industry? Students should report their findings to the class.

Cross- Curricular Integration