Build

It's much easier to start with good habits than to repair black marks later on.                                                                 

Read more...

Restore

You are invited to the most effective program available to clear mistakes made by creditors.

Read more...

Protect

Once you have obtained excellent credit, it is necessary for you to protect it.                                             

Read more...
Financial Glossary
Understanding Financial, Credit, & Real Estate Terms

The following glossary will help you find definitions to commonly used financial terms.

 A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | XYZ

401(K) plan  —  A tax-deferred investment and savings plan that serves as a personal retirement fund for employees.

A

Absolute advantage  —  A person, company or country has an absolute advantage if its output per unit of input of all goods and services produced is higher than that of another person, company or country.

Acceleration clause   —  A stipulation in a loan contract stating that the entire balance becomes due immediately if other contract conditions are not met.

Accrued Interest   —  Interest that has been earned but not received or recorded.

Agreement corporation   —  Corporation chartered by a state to engage in international banking: so named because the corporation enters into an "agreement" with the Fed's Board of Governors that it will limit its activities to those permitted and Edge Act Corporation.

Amortization  —  The process of fully paying off indebtedness by installments of principal and earned interest over a definite time.

Annual Percentage Rate (APR)   —  The cost of credit on a yearly basis expressed as a percentage.

Annuity  —  A series of equal payments made at regular intervals, with interest compounded at a specified rate.

Appraisal fee  —  The charge for estimating the value of property offered as security.  

Appreciation  —  An increase in the value or price.

Asset  —  Anything an individual or a business owns that has commercial or exchange value.

Automated Clearinghouse (ACH)   —  Electronic clearing and settlement system for exchanging electronic transactions among participating depository institutions; such electronic transactions are substitutes for paper checks and are typically used to make recurring payments such as payroll or loan payments. The Federal Reserve Banks operate an automated clearinghouse, as do some private sector firms.

Automated Teller Machine (ATM)   —  Computer-controlled terminal located on the premises of financial institutions or elsewhere, through which customers may make deposits, withdrawals or other transactions as they would through a bank teller. Other terms sometimes used to describe such terminals are customer-bank communications terminal (CBCT) and remote service unit (RSU). Groups of banks sometimes share ATM networks located throughout a region of the country that may include portions of several states.
Automated Teller Machine (ATM) card  —  A debit card that automatically withdraws money from your account.

Automatic Transfer Service (ATS) account   —  A depositor's savings account from which funds may be transferred automatically to the same depositor's checking account to cover a check written or to maintain a minimum balance.