-Glossary of terms-

Commercial Banks- the largest and most important financial intermediaries in the economy.

Commercial Paper- an unsecured, short-term promissory note issued by a large creditworthy business or financial institution.

Common Bond Requirements-In order to be a member of a credit union a person must qualify under these requirements.

Credit Unions- small, non-profit, cooperative, consumer-organized institutions owned entirely by their member-customers.

Deficit spending Unit- (DSU) economic units whose total expenditures exceed their receipts.

Finance Company- companies that extend short and intermediate term loans and lease credit to individuals and business firms that can not obtain credit as cheaply or easily elsewhere.

Financial Institution- institution that issues deposits and other financial liabilities and invests predominantly in loans and other financial assets.

Financial Intermediaries- institutions that issue liabilities to SSUs and use the funds so obtained to acquire liabilities of DSUs.

First–Stage Financing- capital provided to initiate manufacturing and sales in a new venture.

National Federal Credit Union Administration- the regulatory body that sets standards for all federally chartered credit unions and federally insured credit unions.

National Credit Union Share Insurance Fund- an organization providing federal insurance to members who own shares in federally chartered credit unions and in qualifying state-chartered credit unions.

National Federal Credit Union Association- A credit union trade and service association that serves the interests of the generally larger, federally chartered credit unions.

Sales Finance Company- company that finances the credit of retailers and dealers by purchasing the installment credit contracts that acquire when they sell goods on credit.