Finance class was a very informative class, and was held during my fourth month on the journey. In this class we learned all about business finance and things we need to know concerning business. We learned how to construct income statements and many other life long skills. The leadership portfolio assignment for this class was to venture out in the community and interview a banker or a stockbroker. In this interview we was advised to ask specific questions concerning day to day banking operations as well as many other financial tools the bank offer. I had the pleasure of interviewing Mrs. Shalonda Warren a banker at Wachovia bank. We were provided a few questions to ask during the interview and were free to add appropriate questions: Below are the questions asked and what I learned from the assignment:
v When did you first start working with the bank and how long?
v What were the requirements for your job? (Special education, licensing).
v What is the most important aspect of your job?
v What are your current interest rate fees for accounts such as checking, savings, and certificate of deposits?
v How does certificate deposits work?
v What are money market funds?
v As a potential lender what are the lending requirements? (Including Eligibility and qualification standards, Down payment, Collateral,
Current interest rates and terms, line of credit terms and conditions).
v What bank services do Wachovia offer? Deposit boxes, credit cards, credit monitoring service, estate planning.
v Which is a better idea putting money into the bank or a credit union, and why? Why is Wachovia a better banking source?
v With inflation eroding a portion of our savings and investment dollars, be sure to ask the bank executive what savings vehicles, if any, are available that can help you outpace inflation.
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