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Cash Value: The accumulation portion of a permanent policy.

Cashier’s Check: A Cashier’s Check is a currency transaction instrument drawn on the funds of the institution issuing the Cashier’s check. Since the funds are drawn on the Credit Union itself, the amount is collected from the member at the time of purchase. Since these are guaranteed funds, a cashier’s check should be handled as a cash transaction at any other financial institution.

Cash n’ Coins Club Account: The Cash ‘n Coins Club is a savings account for children up to age 12 with special kid “perks” to make the account special and encourage children to save money.

Certificate Amount: The Certificate Amount is the sum of money you invested when you opened a Certificate of Deposit (CD).

Certificate Secured Loan: A loan that uses your certificate balance (CD balance) as collateral. The interest rate charged is the certificate APY (annual percentage yield) rounded up to the nearest 1/4% plus another 1 3/4% (minimum is 6%). The loan’s term is flexible within the term of the certificate.

Charitable Trust: A trust that has a charitable, not-for-profit organization as a beneficiary.

CheckLink Debit Card: This unique access method looks like a credit card, but works like a plastic check. It allows members to use one card that combines the convenience of an ATM card with the worldwide acceptance of Visa. Making it the card of choice for checking account holders. A confidential Personal Identification Number (PIN), keeps the access safe and confidential. CheckLink Card transactions clear just like checks and need to be accounted for when balancing. The Visa CheckLink Card can be used to make purchases anywhere that displays the Visa logo. As an enhanced ATM card, the Visa CheckLink Card is accepted at thousands of CIRRUS, Exchange, Member Access, Honor/BankMate/STAR or Visa ATM machines worldwide 24-hours a day, 365 days a year (over 11,000 surcharge-free ATMs). When making a purchase, the system will look for funds in the checking account. When doing an ATM withdrawal, the system will look for the availability balance in the specific account requested (Checking, Shares, or Line-of-Credit).

Closed End Credit: Credit where the borrower receives the loan proceeds in one amount or a limited number of advances. Once the full amount of the loan is advanced, no additional money can be borrowed and the loan is repaid over a specific number of months with a fixed payment amount.

Closing Cost: The expenses incidental to a sale of real estate, such as loan fees, title fees, appraisal fees, etc. The payment of these fees is an item of negotiation between the buyer and the seller.

Closing Statement: A detailed cash accounting of a real estate transaction showing all cash received, all charges and credits made and all cash paid out in the transaction. (A.K.A. HUD-1 or HUD-1A)

Cloud on the Title: An outstanding claim or encumbrance that, if valid, would affect or impair the title of the owner of the property.

Co-Borrower: One who signs a negotiable instrument with others and becomes primarily liable for its payment.

Codicil: A formally executed document that amends a will.

Collateral Address: Address of the property pledged by a borrower to secure a loan.

CommunityAmerica Financial Solutions, LLC: The CommunityAmerica Financial Solutions (CAFS) program provides consultation and financial management analysis at no cost or obligation exclusively to credit union members and their families. The Financial Advisor has one goal – to help members reach their financial goals through products and services that complement those offered by CACU. Financial Advisors are salaried employees whose income does not depend solely on selling products and services. They are member-driven, not commission-driven. CAFS Financial Advisors offer products and services such as: Mutual Funds & Investments, Life Insurance, Health Insurance, Annuities, Unit Investment Trusts, Limited Partnerships, Stock and Bond Trading, Seminars, etc… Products and Services offered by CUSO Financial Services, L.P., (CFS) are: not NCUA or NCUSIF insured, not credit union guaranteed, and may lose value. Financial planners are employees of CAFS, LLC and registered representatives of CFS. (CAFS, LLC is in partnership with CFS, member NASD/SIPC.

Community Property: A system of property ownership based on the theory that each spouse has an equal interest in the property acquired by the efforts of either spouse during marriage. A holdover of Spanish law found predominantly in western states; the system was unknown under English common law. All property acquired by a husband and wife AFTER marriage, other than separate property acquired by devise, bequest (inheritance) or from the proceeds of property not subject to the community. Community property laws are limited to certain states and are different within each state.

Condominium: Multi-unit structure or property in which the owner holds fee simple or leasehold title to an individual unit with an undivided interest in the common areas to that unit. The absolute ownership of a unit in a multi-unit building based on a legal description of the airspace the unit actually occupies, plus an undivided interest in the ownership of the common elements, which are owned jointly with the other condominium unit owners.

Conservatorship: A legal process during which the court appoints someone to act as conservator and be responsible for the assets of an individual who is no longer mentally competent.

Constructive Notice: Often called "Legal Notice," the conclusive presumption that all persons have knowledge of the contents of a recorded instrument.

Contingent Beneficiary: A beneficiary whose interest is conditioned upon a future event.

Contingent Trust: Also referred to as a "standby trust." This type of trust operates when a specific event occurs in the future.

Contract: An agreement, enforceable at law, between two or more competent persons, having for its object a legal purpose, wherein the parties agree to act in a certain manner.

Convenience Check: A bank-issued check you can use to access your credit card's available credit.

Conveyance: An instrument in writing by which some estate, interest or title in real estate is transferred from one person to another.

Cookie: A piece of data given to a browser by a web server and handed back to the browser on subsequent visits. Our website(s) do not use cookies.

Corporate Fiduciary: An institution that acts for the benefit of another.

Covenant: A promise or agreement, usually in writing, whereby a party pledges or guarantees to another that something is done or shall be done, or stipulates to the truth of certain facts.

Coverdell Education Savings Account: The Coverdell Educational Savings Account (ESA), formerly the Education IRA, is not really an IRA at all. It was created as part of the Taxpayer Relief Act of 1997 to help families save for their children’s college. Distributions from the IRA are tax-free and penalty-free for “qualified higher education expenses”, allowing annual aggregate contributions of $2,000 per child. The minimum balance on this account is $1.00.

Credit Application: An oral or written request for credit, typically referring to a form that records information about a potential loan customer that is used by a lending agency to determine the creditworthiness of the potential customer. The credit application records a customer's income sources, assets, outstanding debts and other personal information required to make credit decisions.

Credit Bureau Report: Written or oral communication by a consumer reporting agency of any information pertaining to a consumer's credit standing, credit capacity, and payment history.

Credit Disability Insurance: Credit Disability insurance is a form of low-cost credit insurance that is available on all credit union consumer loans (excluding first mortgages) up to $50,000. This coverage pays the monthly payments up to $850 per month in the event the member is injured or disabled and cannot work. Coverage is provided by CUNA Mutual Insurance.

Credit Insurance: Insurance purchased by the borrower that is offered by or through the lender that will repay a portion or the entire loan in the event of death or disability of the insured.

Credit Life Insurance: Credit Life insurance is a form of low-cost credit insurance that is available on all credit union consumer loans up to $50,000. This coverage pays off the loan in case of the member’s death and costs only pennies per day. Coverage is provided by CUNA Mutual Insurance. The maximum term is 180 months.

Credit Limit: The total dollar amount that can be advanced to a customer to draw down by check or other means over time.

Credit Line: An amount set-aside by the bank to be available for a customer to draw down by check or other means over time.

Current Assumptions: The statistics that insurance company actuaries use to determine the cost of insurance and the interest rates. The assumptions that are used in determining the premiums include mortality tables, current interest and an estimate of how long the policy will stay on the books (known as "persistency").

Current Balance: The total of all transactions posted to your account as of the previous business day. Your current balance and available balance may differ.