Money and Banking

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15.1 Money
Money and banking

Is Penny Worthless?

A history of Money
15.2 Our Banking System
Money and banking

The fact that money can be lost or stolen is a limitation of currency.
People use banks to store and save their money.
The Development of Hiram Wakefield’s Bank

Checks cannot exist in an economy without banks.
The money people deposit in a checking account in a bank—demand deposit.
It can be withdrawn on demand by writing a check.
Most traveler’s checks are issued by banks.
How to write a Check?

The major business of banks is to provide checking’s, savings, and loan services to people.
Banks make their money by
managing other people’s money.
Banks make most of their money through interest on loans.
Other institutions that manage people’s money are savings and loan associations, mutual savings banks, and credit unions.
Credit Unions Part I
Credit Unions Part II
Credit Unions Part III
15.3 The Federal Reserve System
Money and banking



Federal Reserve System
Total Pages
31
Answer Key
N/A
Teaching Duration
1 hour

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Money and Banking
Money and Banking
Money and Banking
Money and Banking