ABBREVIATIONS LOANS PRODUCTS & SERVICES BUSINESS ACCOUNTS IRA'S AND TRUST ACCOUNTS
100
What is DEBT TO INCOME RATIO
What does DTI stand for?
100
What is REFINANCE
A secured loan used to pay the existing balance on a current car loan.
100
What is CHECKING ACCOUNTS
Neighbors Credit Union Offer these 3 types of products....Simple, Benefits, and Interest.
100
What is PARTNERSHIP
An arrangement where parties, known as partners, agree to cooperate to advance their mutual interests. The partners in a partnership may be individuals, businesses, interest-based organizations, schools, governments or combinations.
100
What is a WITHDRAWAL
When a member wants to take funds out of their IRA account, and wants it back in cash or in their internal account with Neighbors. What is this called?
200
What is MOTHER'S MAIDEN NAME
What does MMN stand for?
200
What is PURCHASE
A secured loan when a member buy a car from a dealer and need a financial institution for the loan.
200
What is 3 BILLS PER MONTH
When using bill pay, how many bills per month are you suppose to have for the service to be free without no monthly charge?
200
What is LIMITED LIABILITY COMPANY( LLC)
A business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.
200
What is CONTRIBUTION
When a member brings in checks or cash and wants to deposit the funds in their IRA. What is this called?
300
What is LOAN-TO-VALUE
What does LTV stand for?
300
What is COLLATERAL
A secured personal loan that lets you borrow money against the value of an asset.
300
What is APPLE/ ANDROID/ SAMSUNG PAY
A service use to download to your mobile wallet on your phone when you left your debit card at home but need to make purchases at the stores.
300
What is CORPORATION
A company or group of people authorized to act as a single entity and recognized as such in law.
300
What is REVOCABLE TRUST
A trust whereby provisions can be altered or canceled dependent on the grantor.
400
What is PROOF OF INCOME
What does POI stand for when you received an approved loan from central processing?
400
What is LEASE BUY OUT
A loan that gives you the money to buy your currently leased car, either at the end or before the end of your lease, instead of returning it.
400
What is FIXED, VARIABLE, SECURED AND BUSINESS CARDS.
Neighbors Credit Union offer these types of credit cards.......
400
What is SOLE PROPRIETORSHIP
A type of enterprise that is owned and run by one natural person and in which there is no legal distinction between the owner and the business entity.
400
What is IRREVOCABLE TRUST
Can't be modified or terminated without the permission of the beneficiary. The grantor, having transferred assets into the trust, effectively removes all of his rights of ownership to the assets and the trust.
500
What is PURCHASED ORDER
What does PO stand for when you received an approved loan from central processing?
500
What is GIFTING
When someone GIVES you a car, or donated the vehicle to charity that's been paid in full with no active liens on it.
500
What is MONEY MANAGEMENT
A service provided on our online banking, that's used for organizing and budgeting funds to help organize your spending.
500
What is UNICORPORATED ASSOCIATION
A voluntary group or union is a group of individuals who enter into an agreement, usually as volunteers, to form a body to accomplish a purpose
500
What is GL 840-848
When calculating the taxes on an IRA withdrawal, we process the transaction in XP but have to place the money in what GL?






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