Classroom Resources / High School

Unit 2

Using Financial Services

Your students will be choosing from a growing number of services offered by banks and other ﬁnancial institutions. These resources will help your students safely and efﬁciently achieve ﬁnancial goals.

Educator Guide: Unit 2

Family Connection

How Our Family Banks

10-minute read, plus discussion

Banking has changed significantly, and students have several options. This guide gives tips for parents on discussing their families’ banking choices, helping teens choose a payment method when shopping, and providing opportunities for them to make financial decisions (and mistakes).

Download Activity

Topic 1

Understanding Financial Institutions

Your students will consider how can banks and credit unions help them achieve their financial goals? Use these resources with your students to explore the various services offered by financial institutions.

Self-paced Module

Understanding Financial Institutions

10 to 15 minutes (plus optional discussion)

In this module exploring financial institutions and the products and services that they offer, students learn that interest is both paid to savers and charged to borrowers as they examine common banking transactions, explore several banking alternatives, and discover the benefits and risks associated with each.

Launch Module

Supplemental Resource Links

Introductions to Depository Institutions

University of Arizona’s Take Charge Today

You can set up an activity for your students: After watching a video and discussing the benefits of depository institutions such as banks and credit unions, students help a character choose a financial institution. (When you get to the site, please create a free account to access the resources. Once logged in, the link above will take you directly to the resource.)

How to Get the Best Banking Experience

American Institute of Certified Public Accountants 360 Degrees of Financial Literacy

Your students can learn why people bank, what account types are available, how to automate payments and savings, and the importance of avoiding fees.

Millions of ‘Unbanked’ Americans Lack Adequate Access to Financial Services

PBS News Hour

Share this 8-minute video and explore why many Americans are “unbanked” and efforts are underway to build trust in financial institutions.

Banking Basics

Federal Reserve Bank of St. Louis’ Page One Economics

Build students’ understanding of financial institutions with this article that includes vocabulary terms and a set of questions for students to answer. If you register with the Econ Lowdown Teacher Portal, you can access additional resources.

National Survey of Unbanked and Underbanked Households

Federal Deposit Insurance Corporation (FDIC)

Explore the FDIC’s interactive map and find out how your state or nearest metropolitan area’s rate of unbanked households compares to those of other areas in the country and/or the national average.

Topic 2

Deciding Where and How to Bank

What factors should students consider when selecting a financial institution? Help them learn how to compare features and costs of services offered by financial institutions.

Self-paced Module

Deciding Where and How to Bank

10 to 15 minutes (plus optional discussion)

This module will give your students an overview of factors to consider when choosing where to bank. They will learn how to compare features and costs of services offered by financial institutions.

Launch Module

Supplemental Resource Links

Bank Your Bucks: Choosing a Banking Partner

FDIC’s Money Smart for Young People

In this lesson, students conduct a comparative analysis of different financial institutions and explain the differences between checking and savings accounts.

About Credit Unions

National Credit Union Administration

Explore information about credit unions, including what it takes to be a member and which ones have federal insurance.

My Banking Checklist

FDIC’s How Money Smart Are You?

Use this tool to compare three different financial institutions with questions ranging from your personal needs to the products each offers.

How to Choose a Bank

Nerdwallet

This article explores factors to consider when selecting a financial institution.

Topic 3

Opening New Accounts

What financial products will your students need? How does one open an account at a financial institution? Use these resources to help students determine what financial products they might need and what information they should have to open an account.

Self-paced Module

Opening New Accounts

10 to 15 minutes (plus optional discussion)

Students learn what to expect when opening a new account with a financial institution, including questions to ask when selecting an account, specific information they will be required to supply, and common fees they should understand when opening their new account. Finally, they review steps to take once their account is open.

Launch Module

Classroom Activity

What to Expect When Opening a Checking Account

1 to 2 Class Sessions

What information and documents will you need to open a new account? Students learn about opening checking accounts. A collaborative activity prepares students for opening an account.

Download Activity

Supplemental Resource Links

Checking

Next Gen Personal Finance

This complete unit plan includes lessons, activities, and projects on checking basics, online and mobile banking, and selecting and opening a checking account. (Portions available in Spanish.)

NGPF Bank Simulator

Next Gen Personal Finance

Try your hand at managing a bank account with this free simulation.

Checklist for Opening a Bank or Credit Union Account

Consumer Financial Protection Bureau

Help students be prepared when they go to open a checking account with this checklist of information to bring with them and questions they can ask.

Manage My Checking Account

FDIC’s How Money Smart Are You?

Share these helpful tips for managing a checking account, including ones for both new and more experienced account holders.

Bank Overdraft Fees

Consumer Reports

This video provides an overview of bank overdraft fees and offers alternatives to avoid fees charged by some financial institutions for this service.

Checkbook Balancer

American Institute of Certified Public Accountants 360 Degrees of Financial Literacy

Try out this interactive tool to help balance a checkbook.

Topic 4

Using Mobile Banking

Your students are likely to prefer to bank from their phones or tablets. Help them learn how to bank safely from their devices. Share these tools to explore common online and mobile banking features, and learn how to prioritize personal mobile banking needs.

Self-paced Module

Using Mobile Banking

10 to 15 minutes (plus optional discussion)

This module will guide your students in how to bank safely from their mobile devices. They will explore common online and mobile banking features, and learn about other mobile financial tools.

Launch Module

Classroom Activity

Banking on the Go

1 to 2 Class Sessions

This module will guide your students in how to bank safely from their mobile devices. They will explore common online and mobile banking features, and learn about other mobile financial tools.

Download Activity

Supplemental Resource Links

How Mobile Banking Works

How Stuff Works

This article explains how mobile banking started and what happens behind the scenes of mobile banking transactions.

Online and Mobile Banking Tips for Beginners

Consumer Financial Protection Bureau

If you or your students can use help getting started with mobile banking, follow these tips.

Banking With Apps

FDIC Consumer News

Explore the differences between mobile banking apps from banks and non-bank companies, including what that means in terms of FDIC insurance.

Dial M For Money: Can Mobile Banking Lift People Out Of Poverty?

National Public Radio (NPR)

National Public Radio explains how people in Kenya are using mobile banking to improve their economic well-being.

Topic 5

Making Everyday Purchases

Show your students the difference between using cash, debit, checks, and credit. Help them understand the costs and benefits of using various methods of payments for everyday purchases.

Self-paced Module

Making Everyday Purchases

10 to 15 minutes (plus optional discussion)

In this module, students are encouraged to consider the payment method they use before making a purchase. The module begins with students identifying payment methods they have used or seen used in the past. Students learn about different types of payment methods and factors to consider when selecting a method of payment.

Launch Module

Classroom Activity

Deciding How to Pay

How do you choose the best payment method for everyday purchases? Students consider how cash, electronic payments, or debit and credit cards can be applied to real-world scenarios.

Download Activity

Previous:Unit 1: Being Financially Responsible

Unit 2

Up Next:Unit 3: Financing Your Future