Assignment: Select the most appropriate financial institution type for each of the following scenarios. Explain your selection and describe at least the several features of each of your selections.
Scenario 1:
A young, married, professional couple with high debt, yet also a high combined income, is looking for long-term insurance and investment financial accounts. Which financial institution is best for this couple? Why is the financial institution you selected the best one for this couple? Describe at least 3 features of the financial institution you selected for this couple.
Scenario 2:
A university student needs her first financial savings and checking accounts. The student has little to no existing credit and is looking at establishing credit references and a long-term financial relationship. The student lives on campus and prefers to join a local financial institution. Which financial institution is best for this student? Why is the financial institution you selected the best one for this student? Describe at least 3 features of the financial institution you selected for this student.
Scenario 3:
A small business owner is planning her expansion strategy. She will need banking availability within several regional cities and will also need to have a variety of business accounts including checking, money market, savings, and possibly even investing accounts. Access to financial resources is of the utmost importance for her business. Which financial institution is best for this small business owner? Why is the financial institution you selected the best one for this small business owner? Describe at least 3 features of the financial institution you selected for this small business owner.