Discussion 1 - Bahasa Inggris Niaga [PDF]

Zitiervorschau

Question: After studying the first Session Topic entitled Bank and also read the additional material. In economy, there are Bank and Credit union.Based on your own opinion, if you want to loan some money, which one do you choose, Bank or Credit union? Please explain your reason! Answer: Assalamu'alaikum Wr. Wb. Good afternoon, Mr. Fedro Iswandi, S.Pd., M.Li. I am Muhammad Fajar Hardjanto part of the Management Study Program – UPBJJ Jakarta. Permission to answer discussion 1. I will choose to borrow through a bank because the requirements submitted by the bank to the borrower are quite clear, easy and the process of disbursing funds is fast Bank is a financial institution that is licensed to accept checking and savings deposits and make loans. Banks also provide related services such as individual retirement accounts (IRAs), certificates of deposit (CDs), currency exchange, and safe deposit boxes. is a financial institution that is licensed to accept checking and savings deposits and make loans. Banks also provide related services such as individual retirement accounts (IRAs), certificates of deposit (CDs), currency exchange, and safe deposit boxes. There are several types of banks including retail banks, commercial or corporate banks, and investment banks. In the U.S., banks are regulated by the national government and by the individual states. In most countries, banks are regulated by the national government or central bank. Credit Unions offer banking services but, unlike banks, they are not-for-profit institutions created for and managed by their members or customers. Credit unions provide routine banking services to their clients, who are generally called members. Credit unions are created, owned, and operated by their clients, and are generally tax-exempt. Members purchase shares in the co-op, and that money is pooled together to fund the credit union's loans. They tend to provide a limited range of services compared to banks. They also have fewer locations and automated teller machines (ATMs). What makes banks and credit unions different from each other is their profit status. Banks are forprofit, meaning they are either privately owned or publicly traded, while credit unions are non-profit institutions. This for-profit vs. not-for-profit divide is the reason for the difference between the products and services each type of institution offers. In addition, as a non-profit, credit unions are also generally exempt from federal taxes, and some credit unions even receive subsidies from the organizations that they are affiliated with. This means credit unions do not have to worry about making profits for shareholders. It is the credit union’s mission to provide its members with the best terms it can afford for their financial products. This means members generally get lower rates on loans, pay fewer (and lower) fees and earn higher APYs on savings products than bank customers do. Reference Source: BMP ADMI4201 – Bahasa Inggris Niaga module 1, and https://www.investopedia.com/terms/b/bank.asp.