Business Products
What type of financial tool is often used by companies to manage expenses, earn rewards, and access a revolving line of credit?
Business Credit Card
What financial metric is used to assess a borrower’s ability to manage monthly debt payments by comparing total debt payments to income?
Debt to Income Ratio Who is the World Council of Credit Unions?
What is the business structure in which an individual owns and operates the business, assuming full responsibility for profits, losses, and liabilities?
Sole Proprietor
What financial plan outlines expected income and expenditures, helping individuals or organizations manage their money effectively over a specific period?
Budget
What activity involves building and maintaining professional relationships to exchange information, resources, and opportunities?
Networking
Which type of business account offers a higher interest rate and is designed for companies seeking to grow their savings with fewer transaction limits?
Next Level Business Savings Account
What type of loan is typically used by businesses to purchase, refinance, or develop property for commercial purposes?
Commercial Real Estate Loans
What term refers to the process of starting and managing a new business, often involving innovation, risk-taking, and the pursuit of profit? Under which U.S. president was the Federal Credit Union Act passed? a. Herbert Hoover b. Franklin Roosevelt c. Harry Truman
Entrepreneurship
What U.S. government agency provides support to small businesses by offering loans, grants, and educational resources?
Small Business Administration (SBA)
What type of service focuses on tailoring experiences and offerings to meet the specific needs and preferences of individual members?
Personalized Service
What type of investment account offers a fixed interest rate over a predetermined term and is typically used by businesses to save money for a specific period of time?
NEED QUESTION: Business Credit Card
What are the two types of interest rates where one remains the same over time, while the other fluctuates based on market conditions?
Fixed vs. Variable Interest Rate
What business structure combines the liability protection of a corporation with the tax benefits and simplicity of a partnership?
LLC
What financial document summarizes a company’s revenues, expenses, and profits or losses over a specific period of time?
Income Statement – Financial Statement
What term refers to a business or individual engaging in activities that contribute to the welfare and development of their local area or society?
Community Involvement
What type of business account provides more features, such as higher transaction limits and additional services, to help manage daily company operations?
Next Level Business Checking Account
What term refers to assets pledged by a borrower to secure a loan, which the lender can seize if the borrower defaults?
Collateral
What term describes an independently owned and operated company, often characterized by a limited number of employees and revenue, typically serving local markets?
Small Business
What documents must individuals or businesses file annually with the government, reporting income, expenses, and taxes owed?
Tax Returns
What practice involves encouraging current members or customers to recommend a business or service to others in exchange for rewards or benefits?
Member Referral
What is the term for the process in which a business secures a loan or lease to purchase or lease a vehicle for commercial use?
Vehicle Financing Under $50k
What is the banking feature that automatically transfers excess funds from a business checking account to a savings account or investment to maximize interest earnings?
Sweep Account Feature
What is the legal entity formed by shareholders that provides limited liability protection, allowing it to operate separately from its owners?
Corporation
The aggregated value of loans the branch Member Advisor Team can process for a business member, before providing a warm handoff to the Business Services Team.
$50k and under
What nonprofit organization, known for its community-focused initiatives, works toward promoting unity and providing financial support for those with terminal illnesses.
Tri-Unity Foundation