Financial Vocabulary

#41

Credit union

Example sentences

1. He joined a local credit union.
2. The credit union offered a low loan rate.
3. A credit union is owned by its members.

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#42

Commercial bank

Example sentences

1. The company borrowed money from a commercial bank.
2. A commercial bank serves people and businesses.
3. She opened a business account at a commercial bank.

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#43

Central bank

Example sentences

1. The central bank raised interest rates.
2. A central bank helps manage a country's money system.
3. The central bank announced a new policy today.

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#44

Bank draft

Example sentences

1. He used a bank draft to pay the seller.
2. The bank guaranteed the money in the bank draft.
3. A bank draft is useful for a large payment.

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#45

Cashier's check

Example sentences

1. She paid the car dealer with a cashier's check.
2. The bank issued the cashier's check in her name.
3. A cashier's check is safer than carrying cash.

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#46

Money order

Example sentences

1. He sent the rent by money order.
2. She bought a money order at the post office.
3. A money order can be used without a bank account.

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#47

Mobile banking

Example sentences

1. She uses mobile banking to check her balance.
2. Mobile banking lets him transfer money by phone.
3. The bank improved security for its mobile banking service.

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#48

Online banking

Example sentences

1. He pays bills through online banking.
2. Online banking is available at any time.
3. She changed her password for online banking.

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#49

Routing number

Example sentences

1. The form asked for the bank's routing number.
2. A routing number identifies a bank in the United States.
3. She found the routing number on her check.

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#50

Account number

Example sentences

1. He entered the wrong account number.
2. The account number identifies his bank account.
3. She keeps her account number private.

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#51

Credit

Example sentences

1. The store gave her credit to buy a laptop.
2. Good credit can help a person get a loan.
3. He uses credit carefully and pays on time.

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#52

Borrower

Example sentences

1. The borrower signed the loan agreement.
2. A borrower must repay the money on time.
3. The bank checked the borrower's income.

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#53

Lender

Example sentences

1. The lender approved her home loan.
2. A lender may charge interest on a loan.
3. He compared offers from more than one lender.

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#54

Loan

Example sentences

1. She took a loan to start her business.
2. The loan must be repaid over five years.
3. He makes a loan payment every month.

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#55

Secured loan

Example sentences

1. The car was used to support the secured loan.
2. A secured loan often has a lower interest rate.
3. The bank can take the asset if the secured loan is not paid.

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#56

Unsecured loan

Example sentences

1. He received an unsecured loan without offering an asset.
2. An unsecured loan may have a higher interest rate.
3. The lender used her credit score to approve the unsecured loan.

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#57

Collateral

Example sentences

1. The house served as collateral for the loan.
2. The lender asked for collateral before approving the money.
3. A borrower may lose the collateral after a serious default.

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#58

Credit limit

Example sentences

1. Her credit limit is $3,000.
2. The bank increased his credit limit.
3. He tries not to use his full credit limit.

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#59

Credit score

Example sentences

1. Paying bills on time improved her credit score.
2. The lender checked his credit score.
3. A high credit score may lead to better loan terms.

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#60

Credit report

Example sentences

1. She found an error in her credit report.
2. A credit report shows a person's borrowing history.
3. The bank reviewed his credit report before the loan.

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