A formal record of business transactions. … [Read more...]

Adjustable Rate Mortgage (ARM)

Mortgage agreement between the credit union and a real estate buyer stipulating predetermined adjustments of the interest rate at specified intervals. … [Read more...]


Provision for repayment of a loan in periodic payments over a stated period. … [Read more...]

Annual Percentage Rate (APR)

Finance charge over a full year, expressed as a percentage of all costs of the loan as required by the Truth-in-Lending Act. … [Read more...]

Annual Percentage Yield (APY)

Total amount of dividends paid based on the dividend rate and compounding frequency for 365 days. … [Read more...]

Annual Percentage Yield Earned (APYE)

Reflects the relationship between actual dividends paid and credited during the period to the average daily balance for the period. This does not reflect any fees imposed on bonuses earned. … [Read more...]

Automated Teller Machine (ATM)

Unmanned equipment used by a member to obtain financial services, activated by a plastic card, push buttons, and a personal identification number (PIN) for each user. … [Read more...]