Acronyms
Money
Money
ATM
What is a Automated Teller Machine?
Incentives issuers provide you with for using their cards.
What are Rewards?
This service allows credit unions to be in the top 3 largest financial institution with more than 5900 locations.
What is Shared Branching?
Account which is attached to your debit card
What is a Checking/Transaction Account?
The best time to begin saving for retirement
What is Now/ASAP?
CD
What is Certificate of Deposit?
An interest rate that does not change over time
What is a Fixed Rate?
Owners of the credit union
What is YOU or all its members?
Adding or putting money into your account
What is a Deposit?
A plan for managing our money during a given period of time
What is a Budget?
NSF
What is Non Sufficient Funds?
Payment method that is used as a short term loan to be smartly paid off in 30 days
What is a Credit Card?
You have a voice in how the credit union is governed by electing this body of leadership.
What is the Board of Directors?
An account held at a financial institution that helps the investor accumulate and save money while earning interest.
What is a Savings Account?
Best practice to avoid interest charges on your credit card
What is Pay it in full each month?
IRA
What is Individual Retirement Account?
A decrease or loss in value
What is Depreciation?
We're for people with plans, whatever those plans are
What is a credit union?
A card issued by a financial institution that allows you to access your account to withdraw cash or pay for goods and services
What is a Debit Card?
A list of all your transactions organized chronologically
What is a Transaction Register/Check Register?
APR
What is Annual Percentage Rate?
Information about how a consumer has borrowed and repaid debit
What is a Credit Report/Credit History?
Credit Union motto
What is People Helping People?
Amount you could be responsible for if you do not report fraudulent transactions on your debit card within 60 days.
What is $500?
This should be performed monthly to ensure proper record keeping and help protect against identity theft
What is Bank Reconciliation?