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GLOSSARY OF TERMS - page O

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Online Banking
Access account information and perform fund transfers between eligible accounts online.

Online Bill Pay
Pay bills online using the Internet.

Origination Fee
A fee paid to a lender for processing a loan application. It is stated as a percentage of the loan amount.

Overdraft Protection
A service that allows a member to use a savings or loan account for protection in case the member exceeds his or her checking account balance.

Overlimit Balance
The amount that an account has exceeded its established credit limit.

 
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