Financial Institutions (Junior Cert Business Studies): Flashcards
📚Flashcards
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13 cards from this deck
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Practise the cards
13 cards from this deck
Financial institution definition
Financial institution definition
Organisation providing money-related services to customers
Four main financial institutions in Ireland
Four main financial institutions in Ireland
Commercial banks, credit unions, An Post, building societies
Credit union definition
Credit union definition
Cooperative financial org owned by members who save & borrow
Common bond in credit unions
Common bond in credit unions
Shared link needed to join (area, industry, community group)
Share definition (credit unions)
Share definition (credit unions)
Unit of ownership in institution with monetary value
Credit union profit status
Credit union profit status
Not-for-profit; helps members, not shareholders
Credit union annual returns to members
Credit union annual returns to members
Dividends based on credit union's performance
An Post ownership type
An Post ownership type
State-sponsored body owned by Irish government
An Post network size
An Post network size
Over 1,100 post offices nationwide
Building society specialisation
Building society specialisation
Mortgage loans and savings services
Only building society operating in Ireland
Only building society operating in Ireland
EBS (Educational Building Society)
Credit union membership mechanism
Credit union membership mechanism
Members buy shares (€1 each), becoming part-owners
An Post importance in rural areas
An Post importance in rural areas
Provides financial services where banks have closed