Looking for Alibrandi

Question One

(a) Definitions

Term Deposits: Similar to a Guaranteed Investment Certificate (GIC), term deposits pay a slightly lower interest rate, as they may be redeemed at any time.

Credit Union: a cooperative group that makes loans to its members at low rates of interest. Also called cooperative credit union.

Building Society: A financial institution owned by its members (further than by share holders) which pays interest on deposits and lends money on the security of property to enable members to buy their own homes. The distinction between buildin...