ABBREVIATIONS | LOANS | PRODUCTS & SERVICES | BUSINESS ACCOUNTS | IRA'S AND TRUST ACCOUNTS |
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What is DEBT TO INCOME RATIO
What does DTI stand for?
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What is REFINANCE
A secured loan used to pay the existing balance on a current car loan.
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What is CHECKING ACCOUNTS
Neighbors Credit Union Offer these 3 types of products....Simple, Benefits, and Interest.
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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.
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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?
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What is MOTHER'S MAIDEN NAME
What does MMN stand for?
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What is PURCHASE
A secured loan when a member buy a car from a dealer and need a financial institution for the loan.
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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?
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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.
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What is CONTRIBUTION
When a member brings in checks or cash and wants to deposit the funds in their IRA. What is this called?
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What is LOAN-TO-VALUE
What does LTV stand for?
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What is COLLATERAL
A secured personal loan that lets you borrow money against the value of an asset.
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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.
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What is CORPORATION
A company or group of people authorized to act as a single entity and recognized as such in law.
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What is REVOCABLE TRUST
A trust whereby provisions can be altered or canceled dependent on the grantor.
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What is PROOF OF INCOME
What does POI stand for when you received an approved loan from central processing?
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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.
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What is FIXED, VARIABLE, SECURED AND BUSINESS CARDS.
Neighbors Credit Union offer these types of credit cards.......
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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.
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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.
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What is PURCHASED ORDER
What does PO stand for when you received an approved loan from central processing?
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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.
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What is MONEY MANAGEMENT
A service provided on our online banking, that's used for organizing and budgeting funds to help organize your spending.
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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
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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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