Cash management account vs savings account

    • [DOC File]Credit Union National Association

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      C. Money Market Deposit Account (MMDA) 1. Like a savings account but pays a higher interest rate (but lower than CDs) 2. Can withdraw/write checks from it, but limited in number as to how many you can write (4x per month) 3. Must maintain a HIGH balance. D. U.S. Savings Bonds (Series EE) – YOU are the lender, government is the borrower! 1.

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    • [DOC File]A GLOSSARY OF CREDIT UNION TERMS

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      Avoid retaining excessive amounts of cash in the checking account; invest excess cash in a savings account, money market account, or certificate of deposit. Even if the checking account is interest bearing, these other types of accounts typically yield higher rates of return.

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    • [DOC File]Unit 3 – Investing: Making Money Work for You

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      Cash in bank—savings account $63,000 Cash on hand 9,300 Checking account balance 17,000 Cash to be reported $89,300 BRIEF EXERCISE 7-2. June 1 Accounts Receivable 40,000 Sales 40,000 June 12 Cash 38,800* Sales Discounts 1,200 Accounts Receivable 40,000 *$40,000 – ($40,000 X .03) = $38,800

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    • [DOC File]ANSWERS TO QUESTIONS

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      R’000 R’000 Balance of personal medical savings account trust liability at the beginning of the year Add: Savings account contributions received Interest and other income earned on trust monies invested Transfers from other schemes in terms of Regulation 10(4) Less: Claims paid on behalf of members Transfers to other schemes in terms of ...

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    • [DOC File]ACCOUNT MANAGEMENT EXPECTATIONS

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      Dormant Account A savings account in which there has been no member activity for a specified period of time. Down Payment A cash sum required at the outset of a credit transaction, which together with the outstanding loan balance comprises the total cost. Due Date A …

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    • Cash Management Accounts vs. High-Yield Savings Accounts: How …

      The Account Management Guidelines have been updated for Funds 500-699, 700-750 and 840 as follows. Account Management is accomplished through account establishment, account transaction and document management, cash management and closeout management. These procedures highlight the following major issues: OVERDRAFTS:

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    • SHRM® Guide to Chapter

      Cash Management Tools. Overdraft Protection . To protect member’s checking accounts, L&N will add overdraft protection. This protection is added by allowing any items that would not normally clear to be paid. Savings Account: The funds are taken from the savings account and transferred to the checking account, along with a $2 fee.

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