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More than 700 [2] Website. uwcu.org. The University of Wisconsin Credit Union (doing business as UW Credit Union) is a credit union headquartered in Madison, Wisconsin. As of 2021, UW Credit Union has more than 300,000 members with $4.8 billion in assets and is the third largest credit union in the state of Wisconsin. [3][4] UW Credit Union ...
Paid outside closing (POC) is the fees or payments rendered outside normal title insurance and underwriting fees due at the time of closing a loan. When acquiring a mortgage or refinancing, a lender or broker may show that an appraisal fee is POC because the fee is usually due at the time of service, prior to closing. For a $0 closing cost loan ...
Charge-off. A charge-off or chargeoff is a declaration by a creditor (usually a credit card account) that an amount of debt is unlikely to be collected. This occurs when a consumer becomes severely delinquent on a debt. Traditionally, creditors make this declaration at the point of six months without payment. A charge-off is a form of write-off.
An alternative financial service (AFS) is a financial service provided outside traditional banking institutions, on which many low-income individuals depend. [1][2] In developing countries, these services often take the form of microfinance. [3] In developed countries, the services may be similar to those provided by banks and include payday ...
A credit union is a member-owned nonprofit cooperative financial institution. They may offer financial services equivalent to those of commercial banks, such as share accounts (savings accounts), share draft accounts (cheque accounts), credit cards, credit, share term certificates (certificates of deposit), and online banking.
A letter of credit (LC), also known as a documentary credit or bankers commercial credit, or letter of undertaking (LoU), is a payment mechanism used in international trade to provide an economic guarantee from a creditworthy bank to an exporter of goods.
Digital Federal Credit Union (DCU) is a credit union based in Marlborough, Massachusetts. [1][2][3] It has over 1,025,000 members [4] and is the largest credit union headquartered in New England as measured by assets, managing over US $9.9 billion. [4] DCU is regulated under the authority of the National Credit Union Administration (NCUA) of ...
A merchant cash advance (MCA) is a type of business funding or loan that is repaid by the lender taking a percentage of the businesses' daily credit or debit card income, directly from the payment processor. The term Merchant Cash Advance is commonly used to describe a variety of small business financing options characterized by purchasing ...