Terms with Tag Banking
- Luminus Financial — Company Est. 2011, Ontario, Canada, ➥ Formerly Starnews Credit Union which was established in 1951. A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Lump Sum Payment — Definition,
- An extra payment made to reduce a loan.
- One-time single-sum payment or payout.
- Luseland Credit Union — Company, Saskatchewan, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Macklin Credit Union — Company, Saskatchewan, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Macroeconomics — Definition,
- A study of the economy as a whole, particularly the interaction of its various components.
- Margin — Definition,
- Expressed as percentage points, the amount that a lender adds to an index to arrive at the final interest rate. For example, if the index is 9 percent and the margin 2.75 percent, the final interest rate is 11.75 percent.
- The difference between the cost and the selling price.
- Marginal Propensity To Consume (MPC) — Acronym,
- Margosa Credit Union — Company, Ontario, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Marital Deduction — Definition,
- For estate tax and gift tax purposes, a deduction that allows you to transfer assets to your spouse tax-free.
- Market Conditions — Definition,
- Factors that affect the sales of homes in an area, such as interest rates, the unemployment rate, home appreciation, weather and time of year.
- Market Index Deposit (MID) — Acronym,
- Maturity — Definition,
- The date when the principal balance of a loan is due and payable to the lender. Also, the date when a bond pays off its principal.
- Maturity Guarantee — Definition,
- A guarantee that after a certain date a contract, such as a life insurance policy or annuity, will have a minimum dollar value.
- Maximum Payable Interest Rate (MPIR) — Acronym,
- McMaster Savings and Credit Union (MCU) — Company, Hamilton, Ontario, Canada, ➥ Merged with PACE Credit Union in 2012. A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Me-Dian Credit Union of Manitoba — Company, Manitoba, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Median Price — Definition,
- In a given area, the amount paid for a house in which half of the houses in that area sell for less and half sell for more.
- Member Savings Credit Union (MSCU) — Company Est. 1949, Toronto, Ontario, Canada, ➥ Originally called the LCBO Employees Credit Union (Liquor Control Board of Ontario). A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- MemberOne Credit Union (MOCU) — Company Est. 1954, Toronto, Ontario, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Mennonite Savings and Credit Union (MSCU) — Company Est. 1964, Ottawa, Ontario, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Merchandise Return (RN) — Acronym, ➥ Bank account transaction code.
- Merchant Deposit (ST) — Acronym, ➥ Bank account transaction code.
- Merchant Reversal (RV) — Acronym, ➥ Bank account transaction code.
- Merged Credit Report — Definition,
- A summary of one's credit history from the big two credit bureaus: Equifax and Trans Union.
- Meridian Credit Union (MCU) — Company Est. 1948, Ontario, Canada, ➥ Ontario's largest credit union. A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Metro Credit Union — Company, Nova Scotia, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Microeconomics — Definition,
- Looking at the individual parts of the economy, with emphasis given to the market process and how it works.
- Midale Credit Union — Company, Saskatchewan, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Minimum Average Balance to Avoid Fees — Definition,
- The balance in the account from day-to-day must average this amount when calculated. If the account balance falls below this amount you will be subject to the monthly charge and/or per usage transaction charges.
- Minimum Balance to Open an Account — Definition,
- The minimum initial deposit required to open a bank account.
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