Credit Union Terminology

1. Common bond amount credit union members like employment, geographical location, or membership
3. A credit union that is organized under the laws of the state with few private deposit insurance guaranteed
6. Any loan in which the amount given to the borrower, plus any finance charges is expected to be repaid in full by a specified date
9. A long-term investment that can have steep charges and penalties for withdraw before maturity date
12. Created for estate planning purposes, usually by legal counsel and are also called Family Trust or Living Trust Accounts
14. Credit Unions that are focused on providing services to specific employers
16. A financial institution's policy as to when funds deposited into an account will be available for withdraw
17. The transfer of money between account by consumer electronic systems
18. When one joins a credit union, you become part of its ownership and get a vote at the credit union's annual meeting.
19. A combination of SMS and phishing - using cell phone text messages to deliver a message in order to get the recipient to divulge personal information

2. Credit An agreement that allows a member to borrow against a preapproved credit line when purchasing goods and services
4. A period of time that allows a Financial Institution to exceed the maximum hold period
5. This Act helps consumers protect their credit identities and recover from identity theft
7. Agency that charters and supervises Federal credit unions and insures the deposits of federally insured credit unions
8. Regulates the US monetary and financial system
10. A share account held in the name of a written trust in which the person does not possess power to terminate or revoke the trust agreement
11. A check payable by, at, or through a Financial Institution in the same check processing region as the location of the branch
13. Field of membership that defines who can become a member
15. Standard minimum deposit for membership