Comparing Financial Institutions (Junior Cert Business Studies): Flashcards
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Practise the cards
15 cards from this deck
What is the primary goal of commercial banks?
What is the primary goal of commercial banks?
Profit-making for shareholders
Commercial banks main service advantage
Commercial banks main service advantage
Widest variety of financial products & services
Commercial banks digital advantage
Commercial banks digital advantage
Sophisticated online banking platforms & mobile apps
Commercial banks main borrowing disadvantage
Commercial banks main borrowing disadvantage
Higher interest rates on loans & mortgages
Commercial banks fee issue
Commercial banks fee issue
Various fees add up significantly over time
Credit unions ownership model
Credit unions ownership model
Member-owned cooperative (not for shareholder profit)
Credit unions main advantage
Credit unions main advantage
Significantly lower interest rates on loans
Why credit unions offer lower loan rates
Why credit unions offer lower loan rates
Owned by members, money lent from member deposits
Credit unions main disadvantage
Credit unions main disadvantage
Limited range of financial products vs banks
Credit union borrowing limitation
Credit union borrowing limitation
Loan amount linked to member's savings history
An Post dual role
An Post dual role
National postal service + financial services
An Post savings security feature
An Post savings security feature
Tax-free products guaranteed by Irish State
An Post foreign exchange advantage
An Post foreign exchange advantage
Zero commission charges on currency exchange
An Post main disadvantage
An Post main disadvantage
Higher ATM withdrawal fees
An Post ATM fee vs AIB
An Post ATM fee vs AIB
€0.60 vs €0.35 maximum