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Safe Deposit Box: A safe deposit box is a storage facility which is rented to members for safekeeping of personal valuables. The access to a safe deposit box is controlled through dual keys and Safe Deposit Box Admission Record. Members use safe deposit boxes to protect such valuables as collections, jewelry, securities, currency, family heirlooms, and important documents. Box sizes, fees and locations vary.

Savings Bond: A savings bond represents a loan made to the United States in the form of a savings certificate. Bonds are registered securities backed by the full faith and credit of the United States (not insured by NCUA) They cannot be sold or used as collateral.

Savings/Share Secured Loan: A Loan that uses the your savings balance as collateral and charges a low interest rate based on a set percentage above the Regular /Savings/Share rate earned. Terms to 72 months.

Scheduled Payment Amount: The dollar amount you must remit to avoid incurring any finance charges or penalties.

Second Mortgage: A mortgage on property that is inferior or secondary in ranking to a first mortgage on the same property. The second mortgage holder is generally at a disadvantage to the first mortgage holder in the event of foreclosure or liquidation.

Secured: A loan is said to be secured if collateral has been given to the lender by the borrower or a third party as security for the loan. The lender may or may not be looking to the collateral as the primary source of repayment of the loan.

Settlement of an Estate: Payments of all claims against an estate and making of all distributions.

Signature Loan: The Signature Loan is a popular multi-purpose loan source. At the time of application, a loan purpose is established, but no collateral is used. The note is qualified by approved credit rating and secured by the your signature. Credit approval required.

Single Family Residence: Dwelling that is designed for occupancy by one family that is owned by the applicant and used as the primary residence.

Single Payment: A single payment is the equivalent of a single check and are payments where the amount fluctuates. Payees that require single payments might include a telephone company, a utility company or a florist you use occasionally.

Special Shares (Savings) Account: A secondary savings account that mirrors the same features and benefits as a Regular Share/Savings account.

Student Loan: Types of student loans offered: Federal Subsidized Stafford, Federal Unsubsidized Stafford (dependent or independent), and Federal PLUS. Payments deferred while enrolled and taking the minimum credit hours. Credit approval required.

Successor Trustee or Executor: An individual or institution that takes the place of a named trustee or executor who can no longer fulfill duties.

Surrender: A method of withdrawing the cash value from your life insurance contract. With this method, the life insurance coverage is canceled and the capital gains that you have accumulated within the policy are exposed to taxes and, perhaps possible penalties.

Switch Kit: The Switch Kit is a tool for current and potential members to use, to switch their accounts from other financial institutions to CommunityAmerica Credit Union. The Switch Kit provides a convenient, streamlined process to move all monies, including any automatic payments and deposits, to the credit union.