What 3 characteristics should a financial institution have and why?

Module 2: Total 100 points

· 10 Things to look for in Your Financial Institution 50 points

· Analyzing your Financial Institution 20 points

· Looking Ahead 30Points

10 Things to look for in Your Financial Institution

Who can you trust with your money? How will they treat you? Being able to have quick and easy access to your hard-earned money is very important. With so many financial institutions competing for your business, it can be difficult to know which one to choose. This assignment will walk you through several characteristics that you should look for in a financial institution.

Step1 :

Analyze your current financial institution, by filling in the chart below

Characteristic*	Explanation of Ranking	Your Current Financial Institution (FILL IN NAME OF YOURS HERE)
Read the article, 10 Things to Look for in a Bank, and use the table below to put each characteristic in order of what is most important to you (1 = most important, 10 = least important). *Please list the actual characteristic, not the number of it in the article. For example, write “Customer Service,” not “#4”	Within each, explain why you ranked it where you did. Be sure to write your explanations as they relate to you and your situation, not to someone in general. (50-100 words per characteristic)	Research your current financial institution to determine how it does on each of the 10 characteristics. · What additional products and services does your financial institution offer? · Compared to others, does your financial institution offer a wide array of products and services or are they lacking? · Does it offer the products and services that you need for our personal situation? (50-100 words per characteristic)
1.
2.
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10.

Analyzing Your Financial Institution

Now that you know what characteristics to look for in a financial institution, it is time to take a closer look at the one you currently have.

1. What did you learn about your financial institution? (100-200 words)

2. What are the pros and cons of your financial institution? (100-200 words)

3. Does your financial institution meet your needs? If yes, how does it meet your needs? If no, what is it lacking? (100-200 words)

4. Based on all you’ve learned, is your financial institution worth keeping? Why? (100-200 words)

Looking Ahead

Throughout this assignment and for most of the modules, you have been looking mainly at your own situation. For this portion of the assignment, you will interview someone that is in a life stage that you might be experience in the future.

Step 1:

1. How are you related to the person you interviewed?

2. Why did you choose this person?

3. What are the differences between his or her life stage and yours?

Step 2:

Ask the interviewee the following questions and write their answer in the box provided.

1. Why did you choose your current financial institution?

2. What 3 characteristics should a financial institution have and why?

3. What are three things that you would change about your current financial institution and why?

4. At your life stage, what are the top 3 things that concern you regarding finances and why?

5. Do you have any advice for me to prepare me for the time when I will be at your life stage?

Step 3:

Reflect on the interview. What are your major takeaways? Did it change your mind regarding your current financial institution? Do you agree with his or her advice? (200-300 words)

 

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