ACH
Automated Clearing House moves financial transactions electronically and automatically. When you sign up for direct deposit through your employer your deposit comes by ACH and is automatically deposited into your account at the credit union on the date your employer has requested. This allows transactions to be sent prior to posting and warehoused until they are to be posted. Besides deposits, withdrawals can be made the same way. You can have your mortgage payment, utility payments, insurance payments, and other monthly payments automatically deducted from your share draft account.

APPRAISAL
An appraisal is an estimate of the fair market value of property and is done when you are making a loan where your home or other property you own is being used as collateral. It evaluates the property at given time based on improvements, location, and comparable sales.

APR
Annual Percentage Rate is the cost of credit, expressed as a yearly rate. It includes any interest, plus any other charges associated with the loan or credit card. This allows you to do comparison-shopping.

APY
Annual Percentage Yield is the actual annual rate of return you could earn if you leave your principal and dividends in your account for a full 365-day year. The annual percentage yield you would actually receive is dependent on the dividend rate, how frequently your account compounds and the average balances you maintain in your account.

ARU
Audio Response Unit allows you to use any telephone to get information and do transactions on your account with the credit union. The Postal Service also uses an ARU to change payroll information and the system name is PostalEase. The credit union has given the name PAL to our ARU. PAL allows you to transfer money to any of your accounts, inquire on deposits, withdrawals, payrolls, ATM transactions, ACH transactions, and dividends. You can also make your credit union credit card payment by transfer from your share or share draft account. It can also give you the credit union's current dividend rates and allow you to connect directly to us during our normal office hours to answer any questions you might have. This service allows the credit union to be available to you 24 hours a day.

AMERICAN SHARE INSURANCE (ASI)
ASI is the nation's largest private insurer, which insures the savings of state-chartered credit unions. ASI only insures top-performing credit unions. ASI insures all share deposits in CPECU, up to $250,000 per account.

ATM
Automated Teller Machine that may allow you to deposit, withdraw, inquire and transfer money within your account. You must have a STAR® CARD or a STAR®/MASTERMONEY® ATM/CHECK CARD with a PIN to perform a transaction at an ATM. If you are a member is good standing you can apply for a STAR® CARD. To be eligible for a STAR®/MASTERMONEY® ATM/CHECK CARD you must be a member in good standing and have an active share draft account. Any ATM machine that is a STAR®, JEANNIE®, or CIRRUS® machine will allow you to perform the above transactions. This service allows the credit union to be available to you 24 hours a day.

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BOARD OF DIRECTORS
The Board of Directors is elected by the membership at the Annual Meeting. The Board of Directors consists of seven members who are willing to serve the membership's financial needs, without compensation. They meet at least monthly to plan for the future products of the credit union and to review the previous month's statistics.

BONDS E/EE
The United States Government allows you to purchase EE Savings Bonds and postal employees can have these bonds purchased through a deduction from payroll. The credit union has the ability to cash these bonds prior to maturity and also at maturity.

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CD'S
Certificate of Deposit is an investment account that is required to remain on deposit for a specified period of time. A request for early withdrawal may be subject to a penalty. Certificates of deposit are insured by the American Share Insurance (ASI) and generally offer a higher rate of dividends than regular share savings accounts. The dividend rate is guaranteed until the maturity date (unless otherwise specified.)

CERTIFIED SHARE DRAFT
A certified Share Draft is a draft that you wrote and brought to the credit union to be certified. The funds are withdrawn immediately from your account and a certified draft should be accepted as good funds by any financial institution. There is a fee to have a share draft certified.

COMPOUNDING
Dividends paid on both the principal balance and the accumulated dividends.

CREDIT BUREAU
A credit bureau is a company that collects data from many sources. Most lenders report loan information to a credit bureau so your credit repayment history is available when you apply for credit. If you have derogatory information, then this information also becomes part of your file. If you have a debt that is turned over to a collection agency this information will probably be reported. It is very important that you pay your debts on time to keep a good credit rating through the credit bureau. You have the ability to get a copy of the credit report and we are able to explain the report. If you need information on the address or telephone number, contact the loan department.

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DEBIT CARD
The Debit Card known as the STAR®/MASTERMONEY® ATM/CHECK CARD allows you to do ATM transactions plus you may also use the card where ever the MasterCard® Logo is available for use. Any transactions done as a MasterCard® will be withdrawn from your Share Draft Account. The credit union requires an active Share Draft Account to be eligible for a Debit Card. This card can also be used for POS transactions. This card allows you to carry your credit union with you at all times.

DEED
A written legal document that transfers ownership of real estate from one party to another.

DIRECT DEPOSIT
Direct Deposit is a method of depositing your paycheck, monthly government checks and other monthly checks you receive. This method allows you the quickest and most convenient form of deposit. This deposit is done through the ACH.

DIVIDEND
This is the amount the credit union credits to your account for saving with us. The dividend is posted to your account at the end of a dividend period. The Board of Directors sets the dividend rate for all accounts.

DIVIDEND RATE
The dividend rate is the annual rate of return earned on the principal balance of your deposit without compounding.

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EQUITY
The difference between the market value (appraisal) and the balance owed on your property.

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FIELD OF MEMBERSHIP
A credit union has specific persons who may join. Credit unions, unlike banks, are not open to the general public, but have groups of people who have a common bond (i.e. employment, church, residence etc.)

FLOOD INSURANCE
On September 23, 1994 the President signed into law the "National Flood Insurance Reform Act of 1994." This statute requires that lenders making mortgage loans research whether the loan property is in a flood zone and notify the borrower, if applicable, that flood insurance is required during the term of the loan. The lender is required to force place flood insurance, if after notification, the borrower fails to purchase coverage.

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INDIVIDUAL ACCOUNT
An individual account is an account owned by one person.

IRA
Individual Retirement Accounts are available for you to set money aside for retirement or education. When opening an IRA account you need to decide which type of IRA you need and select a beneficiary and the type of CD you want to contribute to your funds.

IRS
Internal Revenue Service is the branch of the federal government that collects and monitors income tax. The credit union is required to report any dividends paid on your account to the IRS. The credit union also reports the amount of interest paid on mortgage loans to the IRS. If you cashed Bonds with the credit union the interest earned is reported to the IRS.

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JOINT ACCOUNT
A joint account is an account owned by two or more persons. The joint owner may or may not be eligible for membership.

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LIVING TRUST ACCOUNTS
An account of living trust is an individual account held by one or more trustees of a trust for the benefit of one or more beneficiaries pursuant to a trust agreement.

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MICROFILM DRAFT COPY
A microfilm copy is a copy of a share draft you wrote which was cleared or returned through your share draft account. In order to get a copy we must know the draft number, amount, and the name of the payee. There is a fee for a copy. A copy is usually requested when sent a draft to a merchant and the draft was cashed but the merchant can not find a record of the transaction.

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NADA VEHICLE QUOTE
The credit union subscribes to the NADA official guidebook, which allows us to give you an approximate price on a vehicle you are selling or buying. We also have books for boats, motorcycles, RV's, and mobile homes. Just call us for information.

NET PAY AMOUNT
This is the amount of the balance of your paycheck and may be deposited by Direct Deposit.

NOTARY PUBLIC
A Notary Public may administer oaths, take and certify depositions, notarize documents and several other functions. The credit union has at least three notary publics and we do not charge a fee to notarize a document. It is necessary that we are able to identify the person who is signing the document, so a picture i.d. may be required.

NSF
Non-Sufficient Funds are drafts or checks that are returned due to insufficient funds in the account from which they were drawn.

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PAL
Personal Account Line gives you access to your account from any touch-tone telephone 24 hours a day. A variety of functions are available which include balance inquiries, transfers, credit card payments, history on accounts, ATM transactions, Payroll information, Dividends, Dividend Rate information and much more. To use PAL you must enter your account number and a PIN that is assigned by the credit union.

PAYROLL DEDUCTION
Payroll deduction is an amount you wish to have deducted from your paycheck and deposited into the credit union. The Post Office requires you to make changes to your payroll deduction through PostalEase.

PIN
Personal Identification Number is a security code assigned by the credit union to allow you access to do specific transactions. You can be issued a PIN for PAL, ATM, or Credit Card access. This PIN is not to be shared, as it is required to do financial transactions. A PIN should be a number you can commit to memory, but it is recommended not to use your SSN, telephone number, address or date of birth.

POD ACCOUNT
Payable On Death Account is an account that allows you to designate a surviving beneficiary for the funds in your account. The beneficiary may not use your account in any way until after your death.

POS
Point Of Sale is a term used for a financial transaction done by using your STAR® or MASTERMONEY® ATM/CHECK CARD in order to pay a merchant for a purchase. This transaction requires that the merchant accept your STAR® or MASTERMONEY® ATM/CHECK CARD. The transaction is posted to your share draft account. Currently there are many merchants that deal in POS. Most grocery stores and shopping mall merchants offer POS.

POSTALEASE
This is the Postal ARU system, which allows all postal employees to start, change, and stop payroll deductions. This system is also used to start or stop net pay. The system requires your Social Security Number and a PIN assigned by the Postal Service. The credit union can help you through this process if you come in to the office and we do have written instructions for use at home. The PostalEase ARU also has other postal features for your use and is a separate ARU from PAL.

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SECURITY AGREEMENT
This is a document that is signed at the time you borrow money when you are pledging tangible collateral. When you finance a vehicle, purchase furniture, buy a boat or any other tangible item you will be required to sign a security agreement.

SEG
Select Employee Group is a group of people who have a common bond, such as employment, that have decided to join the credit union. The credit union must get permission to take in a SEG and upon approval the employees of that company may avail themselves of all credit union services.

SHARE DISCLOSURE
This document tells you about the account you are opening. It tells you if a dividend is paid on this account, how the dividend is calculated, and the dividend rate, the APY, and the compounding frequency, minimum balance to obtain a dividend and many other features about the account.

SHARE DRAFT
Need a great checking account? Come in and open a CPECU Share Draft Account. The drafts you write are carbonized, so you won't ever have to worry if you forgot to enter the draft in your register - you can look at the copy. If you sign up for direct deposit of your paycheck, you are eligible for 360 personalized checks per year and an ATM card. There is no "per item" charge for drafts posted and a very small monthly fee. There is no minimum balance, but a $5,000.00 balance is required for dividends on this account, which are credited quarterly and posted on the 1st day of each quarter.

The requirements for a MASTERMONEY® ATM/CHECK CARD is an active Share Draft Account. You can carry your credit union where ever you go with a MASTERMONEY® ATM/CHECK CARD. Sign up today! Click Here to view the rate on this account.

SAFE DEPOSIT BOX
Safe storage provided to protect your important possessions from theft, fire or loss. Boxes are available in several sizes and are rented on a yearly basis. Entry to your box may require picture ID for your security.

STAR® CARD
This card allows you to do ATM transaction at any STAR®, JEANNIE® OR CIRRUS® ATM. This card can also be used wherever the STAR® logo is displayed for POS transactions. The credit union requires net pay/direct deposit and an active Share Draft Account in order to get the STAR® Card. This card can also be used for POS transactions. This card allows you to carry your credit union with you at all times.

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TITLE SEARCH
If you make a mortgage loan a search of the courthouse records in the county in which your property is located is required. A search is done on the property records for current mortgages, liens against the property and any other public filings.

TRAVELERS CHEQUES
Travelers Cheques are negotiable instruments that replace cash. Travelers Cheques can be purchased in denominations of $20.00, $50.00 and $100.00.

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VIN
The Vehicle Identification Number is used to identify any vehicle registered in a state. Some people call it the serial number for the vehicle.

VALID IDENTIFICATION
Valid Identification is your driver's license, passport, military ID or valid state ID. A valid identification is required, by law, to open some accounts with the credit union and for financial transactions.

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WEB PAL II
Your Credit Union provides you with Internet Home Banking known as WEB PAL II. With 24 hour access and user friendly features you have a variety of functions available which include balance inquiries, transfers, credit card payments, account histories and much more. To use this service you must enter your member number and a Password. If you are not registered for this service you may register online or call our office and we will get you set up

WESTERN UNION COMMERCIAL MONEY ORDERS
Western Union Commercial Money Orders allow you to withdraw emergency funds from your account through any Western Union Office. A valid ID is required and there is a fee for this service.

WIRE TRANSFER
A wire transfer allows you to send funds to your account at another institution that must be received the same day. Wires must be requested prior to 3:00 PM. If you want to transfer funds to someone else we must have you come into the office to sign the proper documents. There is a fee for this service.

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