Financial Institutions Lesson Objectives List various services offered

Financial Institutions

Lesson Objectives � 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

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

Financial Institutions � 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 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- Institutions Anticipation Guide: Financial ◦ 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

Enrichment � 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.

Acrostic Poem � 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

Financial Institutions � 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.

Cross-Curricular Integration � 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.