Financial Terms Glossary...

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

 

Credit Union National Association (CUNA)
Non-profit and dues-supported national association serving credit unions and credit union leagues in the United States.

Credit Union Service Organization (CUSO)
Organization owned wholly or in part by one or more credit unions to provide services to credit unions, their members, or both.

 

D
 

Debt

Obligation to repay money, goods or services to a person or other entity according to an agreement contract. The debt may or may not be secured by assets.

 

Debt Consolidation

Consolidating more multiple debt obligations into one loan in order to reduce the annual percentage rate or the dollar amount of monthly payments.

Debit/Check/ATM Card

Withdraw funds from savings or checking or conduct other transactions at an Automated Tell Machine (ATM). The card can also used to pay for purchases and receive cash back at participating stores. Purchases and cash back are debited from the member's or consumer's checking account.

 

Default
Failure to repay a loan according to the agreed upon terms.

Deficit
When there are more liabilities and debt than income and assets. In finance, the excess of expenditures over budget.

Delinquency
Failure to make a payment on an debt or other obligation when due according to a loan agreement or other contract.

Demand Deposit
Funds that are available for withdrawl at any time, withot any advance notice.

Deposit
Cash, checks, drafts or electronic transfers (EFT) placed into a member's account and made available for transactions.

Direct Deposit
Having a payment, such as a payroll, refund, retirement or disability check, sent electronically or by mail and credited to an individual's account at their financial institution.

Disbursement
Loan funds issued by a lender to the borrower by cash, check or deposit.

Disclosure Statement
Positive or negative information released by a person or company that may have either a positive or negative influence on an investment decision or loan approval.