A、Teachers working in the same city. B、Professors attending the same seminar. C、Colleagues working for the same government agenc

Saving money is a first step toward wealth. Putting money away for the future also supports the banking system. Banks need a supply of savings to provide money for loans. In the United States, people who want to start a savings have many choices. [16]Banks. savings-and-loans and credit unions are traditional places to open an account. [17]Credit unions are cooperatives for people who are linked in some way. For example, the members may work for a university or a government agency. Most credit unions are non-profit organizations.
    Savers have their money guaranteed up to one hundred thousand dollars. Banks and other financial organizations pay interest on savings accounts. But the interest rates are low. Certificates of deposit are another way to save. They pay higher interest rates. With a certificate of deposit, a person agrees not to withdraw an amount of money for a period of time. The term could be three months, or it could be several years. Longer terms, and larger amounts, pay higher interest. People can withdraw their money early but at a cost.
    Another way to save is through a money market fund. This is a kind of mutual fund. Mutual funds invest money from many people. Money market funds pay higher interest than savings accounts. The money is usually placed in short-term government securities. [18]Money market funds, however, may not be federally guaranteed like other kinds of savings.
16. What are the traditional places to open an account in the United States?
17. Which group can form a credit union?
18. Which way of saving may not be federally guaranteed?