GLOSSARY
OF TERMS - page A
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
ATM
Automated Teller Machine. An unmanned electronic device that
performs basic teller functions, such as accepting deposits,
cash withdrawals, and account balance inquiries.
Amortization
A method of retiring or liquidating a debt by making periodic
and regular installment payments
Annual Fee
A fee charged on an annual basis by the credit card issuer
to the cardholder to help cover the cost of maintaining the
cardholder's account.
Annual Percentage Rate
- Credit Card
The percentage rate applied to outstanding balances
on a credit card on an annual basis. The APR
can be fixed or variable.
- Mortgage
The actual cost of your loan disclosed in a
rate of interest including all of the associated
costs such as fees.
Annual Percentage Yield
The effective yield of a deposit taking into account the
method of compounding interest.
Annual Report
The Credit Union prepares an annual report at the end of a
fiscal year. This report sizes up credit union operations
and displays earnings, sales, balance sheets and financial
footnotes.
Appraisal
The assessed value of a property.
Available Credit
The amount of the cardholder's credit line after the current
balance, plus any outstanding authorizations for transactions
that have not yet been posted.
Average Daily Balance
An amount calculated by adding together all the daily balances
of the billing cycle and dividing the sum total by the number
of days within that cycle. |