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Credit union |
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Credit unionA not-for-profit institution that is operated as a cooperative and offers financial services such as low-interest loans, to its members.Credit unionNonprofit cooperative organizations that provide banking and financial services, including mortgages, home improvement loans and home equity loans, to their members.Credit unionA mutual association formed by people with a common affiliation such as employees, a union or a religious group in which pooled saving are made. The funds are invested for appreciation and members may borrow at competitive rates.Similar MatchesCredit analysisCredit analysisEvaluating information on companies and bond issues in order to estimate the ability of the issuer to live up to its future contractual obligations. Related: Default risk. Backup Line of CreditBackup Line of CreditA bank assurance of funds obtained by an issuer of commercial paper to protect the CP investor from default. The issuer pays a commitment fee to the bank. Bank creditBank creditThe maximum credit an individual may secure from his/her bank. Unconfirmed Letter of CreditUnconfirmed Letter of CreditA letter of credit which has not been guaranteed or confirmed by any bank other than the bank that opened it. The advising bank merely informs the beneficiary of the letter of credit terms and conditions. Letter of credit (LOC)Letter of credit (LOC)A form of guarantee of payment issued by a bank on behalf of a borrower that assures the payment of interest and repayment of principal on bond issues. Further SuggestionsNational Credit Union AdministrationRevolving line of credit Credit checks Sight Letter of Credit Credit reference agency Federal credit agencies Time Letter of Credit credit clearing Standby letter of credit Foreign Credit Insurance Association (FCIA) Eurocredits Trade credit Loose credit Credit balance Tax credit Creditor Commercial letters of credit Commodity Credit Corporation Crediting rate Financial institution buyer credit policy Bank Letter of Credit Policy Creditors committee Line of credit Credit Trade credit |
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