Term
|
Definition
| A loan to a corporation or to the government. The lender is an investor. |
|
|
Term
| Certificate of Deposit (CD) |
|
Definition
| A insured interest earning savings instrument with restricted access to the funds. |
|
|
Term
|
Definition
| Paper checks or debit cards are used to withdraw money deposited into the account to pay for items. |
|
|
Term
|
Definition
| A card used to make a purchase now and must be repaid later. |
|
|
Term
|
Definition
| Information and advice is given to customers to help them make decisions about financial issues. |
|
|
Term
|
Definition
| A commitment of money to achieve long-term financial goals. |
|
|
Term
|
Definition
| Borrowed money members apply for to be paid back at various interest rates. |
|
|
Term
|
Definition
| A loan to purchase real estate. |
|
|
Term
|
Definition
| A secured box in a bank to be used for valuable and important personal items. |
|
|
Term
|
Definition
| Money is deposited into an account to earn interest. |
|
|
Term
|
Definition
| A savings account at a credit union. |
|
|
Term
| Share Certificate Account |
|
Definition
| A certificate of deposit (CD) at a Credit Union. |
|
|
Term
|
Definition
| A checking account at a Credit Union. |
|
|
Term
| Federal Deposit Insurance Corporation (FDIC) |
|
Definition
| Federal government insurance for depositors at commercial banks. |
|
|
Term
| National Credit Union Administration (NCUA) |
|
Definition
| Federal government insurance protection for depositors at credit unions. |
|
|
Term
|
Definition
| Full service banks that are insured by FDIC. |
|
|
Term
|
Definition
| Plastic card that is electronically connected to an individual's checking account. |
|
|
Term
|
Definition
| An unsecured, high interest, short-term loan. |
|
|
Term
|
Definition
| When the depositor just signs their name on the back of the check. |
|
|
Term
|
Definition
| When money is put into a checking or savings account, increasing the balance. |
|
|
Term
|
Definition
| An example is writing "For Deposit Only + account number + your name" on the back of a check. Prohibits people from cashing the check. It can only be deposited. |
|
|
Term
|
Definition
| An endorsement used to transfer a check to another person. |
|
|
Term
|
Definition
| Check that has cleared the bank. |
|
|
Term
|
Definition
| Where a checking account customer records their transactions. |
|
|
Term
|
Definition
| Lack of sufficient funds to cover the full amount of a check. |
|
|
Term
| Personal Identification Number (PIN) |
|
Definition
| Number used to withdraw money at an ATM. |
|
|
