what are the essential needs of the banking industry?
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FDIC
The Federal deposit insurance Corp .A government run organization that insures customers' bank deposits up to $250,000 if the bank fails . The national credit union administration is the equivalent for credit unions.
Certificate of deposit
commonly known as a CD , an account into which you deposit a sum of money and agree to keep it there for a specified length of time. The account typically pays higher interest rates than standard savings and checking accounts.
APY
Annual percentage yield . The amount of Interest you gain from keeping money in an account in a year , including compound interest.
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