Skip Navigation

Financial Institutions

Main Core Tie

Adult Roles and Financial Literacy
Strand 7 Standard 1




Students will understand the services and payment options available from financial institutions, specifically checking and savings accounts and other payment methods.


Intended Learning Outcomes

Use the vocabulary worksheet and key (pdf).

Primary Vocabulary

  • Bounced check
  • ATM Charge
  • Stop Payment Fee
  • Traveler's Checks
  • ATM
  • FDIC
  • Blank Endorsement
  • Restrictive Endorsement
  • Special or Full Endorsement
  • Direct Deposit
  • Point of Sale Transactions
  • Cyberbanking
  • Reconciling a Bank Statement
  • SIPC
  • Interest
  • Simple Interest
  • Compound Interest
  • The Rule of 72


  • Bank
  • Credit Union
  • Investment Broker
  • Loan Agency
  • Monthly Fees
  • Charges for Printed Checks
  • Interest on Checking
  • Storage of Valuables
  • Overdraft Checking
  • Credit Cards
  • Check Cards (Debit Cards)
  • Signature Authorization Card
  • Automated Payments
  • Stored Value Cards
  • Electronic Cash
  • Smart Cards
  • Savings Accounts
  • Passbook Savings
  • Statement Savings
  • Checking Account/Draft Account
  • Merchant Account
  • Certificate of Deposit
  • Envelope System

FCCLA Activity Option
Consult the FCCLA Financial Fitness website.

  • Banking Basics - Conquer bank accounts, credit, and investments
  • Cash Control - Track and plan personal spending
  • Making Money - Sharpen on-the-job financial fitness
  • Consumer Clout - Become a savvy spender
  • Financing Your Future - Apply financial skills to real life.

Bring in a piggy bank and ask how many have a piggy bank in which to save money.

Ask students in class how many have a savings account or a debit card. (Students do no need to answer out loud.)

Ask how many students regularly reconcile their bank account if they have one.

Content Outline, Activities and Teaching Strategies
(All options do not necessarily need to be taught. Select ones to cover standards and objectives and according to your district policies.)

Option 1: Financial Institution Overview
Use teacher notes (pdf) to go over Vocabulary Worksheet on Financial Institutions (pdf). Have students complete the Calculate Simple Interest Worksheet (pdf) in order for them to understand interest rates.

Option 2: FEFE Lesson - Financial Institutions
Use the teacher information to find present information about financial institutions from FEFE Educational Resources.Plan

Step #1: Go to: (You will need to register and log in to this website prior to use)
Step #2: Click on Educational Resources, then click on Curriculum, then click on 17.0 Values and Goals Setting.
Step #3: Click on 1.17.3 Setting Financial Goal and download the lesson plan and resources.

Students will identify terms and services associated with banking and checking accounts.
1.7.3 Financial Institutions Lesson Plan
1.7.3.F1 Information Sheet
1.7.3.G1 PowerPoint Presentation

On this website there is a lesson plan about the different kinds of financial institutions, an information sheet about the different kinds of financial institutions as well as a powerpoint that highlights the following topics.

  • Definitions
  • Insurances
  • Types of Financial Institutions
  • Benefits and Advantages
  • Services available

There are also several student activities that can be printed off once you have registered.

Option 3: Comparison of Different Institutions
Have students do a comparison of different institutions by doing a group poster on different institutions in the area. (GFL Core Curriculum Resource Book). Complete the Comparison of Financial Institutions Worksheet (pdf).

Option 4: Financial Accounts
Students will demonstrate the knowledge of financial transactions, checking and savings account, and associated financial services. Show the powerpoint on financial, checking and savings accounts from

This online lesson includes a powerpoint on how to:

  • open a checking account,
  • make a deposit,
  • endorse a check
  • write a check
  • keep a running balance
  • read a bank statement
  • reconcile a checking account

There are also student activity worksheets on each of the above topics.

Step #1: Step #1: Go to
Step #2: Click on School , then click on Lesson plans, then Teens
Step #3: Click on Chapter 6 (Banking Services)

You will need to register to receive a log-in and password.

Option 5: Managing a Checking Account
Use the Managing a Checking Account Check Register vs. Computer Program Worksheet (pdf).

Use the teacher information (pdf) to see how to access the hands on banking assignment. Students will do a computer or paper method of managing a checking account including reconciling the account with the bank statement. Use the Manage a Checking Account worksheet (pdf).

For more information go to: Guide.pdf.

Option 7: Payment Methods
Students will compare the advantages and disadvantages of different payment methods. Use Calculation Worksheet and Teacher Key (pdf) to show different methods to pay for items. Determine which method is the most efficient and will save the most money.

As people and businesses use the money to buy, borrow, and invest, it passes through many hands, including individuals, businesses, and financial institutions, like banks. Whenever one person or group spends money, another person or group gains money. Money is constantly moving through our economy in a never-ending cycle. When considering a financial institution one needs to look at the different services and fees that are offered.

Created: 07/14/2011
Updated: 02/05/2018