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Banks & Credit Unions (Part I)

Abstract

This project is the first of two parts to introduce students to the similarities and differences between banks and credit unions. Students evaluate these two types of financial institutions and apply learned knowledge in evaluating a local credit union and bank. They will determine which financial institution might best fit their needs.
Curriculum Link: http://www.econedlink.org/lessons/index.php?lid=691&type=educator Author: Melissa Smith, Updated: May 19, 2009

Expected Student Outcomes/Objectives

• Identify the differences and similarities between banks and credit unions.
• Locate local banks and credit unions.
• Evaluate which would be the better choice for them based on a set of criteria.

Description of Activities

Activity 1: Similarities & Differences - What are these things?
Students will complete a Venn Diagram using the information they find on the following web site links to:
• general information about credit unions.
• an overview of credit unions.
• how banks work.
• definition of credit unions.
• definition of banks.
Venn Diagram will be printed when it's completed and used as a reference sheet for the student until the end of the project, when it will be turned in.

Activity 2: Where are they?
Students will locate banks and credit unions that are close to where they live and go to school - which ones would be most convenient for them? Students locate one bank and one credit union in their area with web sites and fill this information in to the Criteria for Choosing a Bank or Credit Union worksheet – following links to:
• Locate Local Banks (Enter "banks" in the place for name and enter your zip code)
• Locate Local Credit Unions; General Credit Union Information

Activity 3: Which one is better for me? Have students complete Bank Criteria Worksheet by using their venn diagram and Web sites they have researched.

Culminating Activity and/or Assessment

Students use venn diagrams and information they learned from research to complete this Interactive Activity.
http://www.econedlink.org/interactives/EconEdLink-interactive-tool-player.php?filename=dragndrop.swf&lid=691

Instructional Materials Needed

Computers, Internet, SmartBoard or LCD Projector, WhiteBoard/Markers, Online Links to Activities, Word Processing Software, Pencil/Paper, Printer.

Instructional Materials Provided

Online Teacher Instruction Materials, Links to Online Activities, Computer, Internet, Handouts. Student Online Version: http://econedlink.org/691

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Additional criteria

Cost: free

Curriculum type: Project

Academic subject areas: History/Social Sciences; English; Career-Technical Education

States' Career Clusters: Finance

California Industry sector(s): Finance and Business

Duration: 2 to 3 class periods

Grade Targets: 9, 10, 11, 12

Level of Expertise for CTE: Introductory

Standards Addressed: Detailed documentation of alignment with Common Core, NGSS, C3 or CTE Standards provided

Online curriculum

Source: Web Site

Curriculum Link: http://www.econedlink.org/lessons/index.php?lid=691&type=educator


Related Website(s): http://www.econedlink.org

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