Acronyms
Acronyms can be confusing, especially if you're new to CUs (that's credit unions). Below is a hepful list of many of the acronyms used by credit unions and the financial services industy. Our thanks to NAFCU member David Wright of Services Center Federal Credit Union for providing us with this list.
If you are searching for a particular acronym, you may wish to use the Find function on your browser. You can also print a copy of this list by clicking on the Printer Version of This Page link at the bottom of this page.
ABA - American Bankers Association
ACH - Automated Clearing House
ACULE - Association of Credit Union League Executives
ADA - Americans with Disabilities Act
AFFN - Armed Forces Financial Network
AICPA - American Institute of Certified Public Accountants
AIRES - Automated Integrated Regulatory Examination System
ALCO - Asset Liability Committee
ALM- Asset Liability Management
ANPR - Advance Notice of Proposed Rulemaking
ANSI - American National Standards Institute
APR - Annual Percentage Rate
APY - Annual Percentage Yield
APYE - Annual Percentage Yield Earned
ARM - Adjustable Rate Mortgage
ATM - Automated Teller Machine
BAI - Bank Administration Institute
BID - Business Improvement District
BIF - Bank Insurance Fund
BLS - Bureau of Labor Statistics
BRAC - Base Realignment and Closure
BSA - Bank Secrecy Act
CAMEL - Capital Adequacy, Asset Quality, Management, Earnings,
Asset/Liability Management
CAP - Community Action Plan
CAR - Capital Asset Ratio
CARM - Convertible Adjustable Rate Mortgage
CBO - Congressional Budget Office
CCCS - Consumer Credit Counseling Service
CCI - Consumer Confidence Index
CCPA - Consumer Credit Protection Act
CCUE - Certified Credit Union Executive
CCUN - Corporate Credit Union Network
CD - Certificate of Deposit
CDCU - Community Development Credit Union
CDFI - Community Development Financial Institution
CDI - Credit Disability Insurance
CEU - Continuing Education Unit
CFA - Consumer Federation of America
CFO - Chief Financial Officer
CIO - Chief Information Officer
CLF - Central Liquidity Facility
CMIG - CUNA Mutual Insurance Group
CMO - Collateralized Mortgage Obligation
COA - Certificate of Authenticity
COBRA - Consolidated Omnibus Budget Reconciliation Act of 1985
COE - Cost of Equity
COFI - Cost of Funds Index
COLA - Cost of Living Adjustment
COO - Chief Operations Officer
CPA - Certified Public Accountant
CPI - Collateral Protection Insurance, Consumer Price Index
CPSC - Consumer Product Safety Commission
CRA - Community Reinvestment Act
CSA - Community Services Administration
CSR - Customer Service Representative
CTR - Currency Transaction Report
CU - Credit Union, Consumers Union
CUES- Credit Union Executives Society
CULAC - Credit Union Legislative Action Committee
CUMAA - Credit Union Membership Access Act
CUNA - Credit Union National Association
CUSO - Credit Union Service Organization
DES - Data Encryption Standard
DFAS - Defense Finance and Accounting Service
DFI - Depository Financial Institution
DI - Depository Institution
DOJ - Department of Justice
DOL - Department of Labor
DR - Disaster Recovery
DRIP - Dividend Reinvestment Plan
DRP - Disaster Recovery Plan
EBP - Electronic Bill Payment
ECI - Employment Cost Index
ECOA - Equal Credit Opportunity Act
EDP - Electronic Data Processing
EEOA - Equal Employment Opportunity Act
EEOC - Equal Employment Opportunity Commission
EFT - Electronic Funds Transfer
EFTPS - Electronic Federal Tax Payment System
EIB - Export Import Bank
EIC - Earned Income Credit
EIN - Employer Identification Number
EITC - Earned Income Tax Credit
EPA - Environmental Protection Agency
EPPA - Employee Polygraph Protection Act of 1988
ERISA - Employee Retirement Income Security Act of 1974
FAR - Fixed Asset Ratio
FASB - Financial Accounting Standards Board
FBI - Federal Bureau of Investigation
FAS - Financial Accounting Standards
FCC - Federal Communication Commission
FCRA - Fair Credit Reporting Act
FCU - Federal Credit Union
FDIC - Federal Deposit Insurance Corporation
FEMA - Federal Emergency Management Agency
FFIEC - Federal Financial Institutions Examination Council
FHA - Federal Housing Administration
FHFB - Federal Housing Finance Board
FHLB - Federal Home Loan Bank
FHLMC - Federal Home Loan Mortgage Corporation (Freddie Mac)
FICA - Federal Insurance Contribution Act
FinCEN - Financial Crimes Enforcement Network
FIRREA - Financial Institutions Reform, Recovery and Enforcement Act
FISCU - Federally Insured State Credit Union
FLSA - Fair Labor Standards Act
FmHA - Farmers Home Administration
FMLA - Family Medical Leave Act
FNMA - Federal National Mortgage Association (Fannie Mae)
FOI(A) - Freedom of Information Act
FOM - Field of Membership
FOMC - Federal Open Market Committee
FPR - Financial Performance Report
FPA - Flexible Premium Annuity
FR - Federal Reserve
FRAP - Floating Rate Asset Program
FRB - Federal Reserve Bank
FRFS - Federal Reserve Financial Services
FSLIC - Federal Savings and Loan Insurance Corporation
FSR - Financial Service Representative
FTC - Federal Trade Commission
FTE - Full Time Employee
FUTA - Federal Unemployment Tax Act
FY - Fiscal Year
GAAP - Generally Accepted Accounting Principles
GAAS - Generally Accepted Auditing Standards
GAC - Governmental Affairs Conference
GAN - Government Action Network
GAO - Government Accounting Office
GDP - Gross Domestic Product
GFE - Good Faith Estimate
GLBA - Gramm-Leach-Bliley Act of 1999
GMAC - General Motors Acceptance Corporation
GNP - Gross National Product
GSA - Government Services Administration
GSE - Government Sponsored Enterprise
HCE - Highly Compensated Employee
HEL - Home Equity Loan
HELOC - Home Equity Line of Credit
HIPAA - Health Insurance Portability and Accountability Act of 1996
HMDA - Home Mortgage Disclosure Act
HOEPA - Home Ownership and Equity Protection Act of 1994
HRST - High Risk Securities Test
HTM - Hold to Maturity
HUD - Department of Housing and Urban Development
IBAA - Independent Banks Association of America
IMF - International Monetary Fund
INS - Immigration and Naturalization Service
IO - Interest Only
IRA - Individual Retirement Arrangement (or Account)
IRC - Internal Revenue Code
IRCA - Immigration Reform and Control Act
IRPS - Interpretive Ruling and Policy Statement
ISO - International Standards Organization
KFRA - Key Financial Ratio Analysis
LAN - Local Area Network
LAPP - Lender Appraisal Processing Program
LIBOR - London Interbank Offered Rate
LLC - Limited Liability Company
LLP - Limited Liability Partnership
LO - Loan Officer
LOC - Line of Credit
LP - Loan Protection (Insurance)
LRC - Legislative Research Council
LSA - Local Security Administrator
LTV - Loan to Value
MBA - Mortgage Bankers Association
MBI - Mechanical Breakdown Insurance
MBL - Member Business Loan
MBS - Mortgage Backed Securities
MCA - Monetary Control Act
MCSD - Membership Capital Share Deposit
MICR - Magnetic Ink Character Recognition
MLCA - Money Laundering Control Act of 1986
MMA - Money Market Account
MMDA - Money Market Demand Account
MO - Money Order
MSA - Medical Savings Account
MSA - Metropolitan Statistical Area
MSAs - Mandatory Supervisory Actions
MSR - Member Service Representative
MSRP - Manufacturer’s Suggested Retail Price
MTD - Month to Date
MVPE - Market Value of Portfolio Equity
NACHA - National Automated Clearing House Association
NAFCU - National Association of Federal Credit Unions
NAHA - National Affordable Housing Act
NASCUS - National Association of State Credit Union Supervisors
NASD - National Association of Securities Dealers
NAV - Net Asset Value
NBFI - Non-Bank Financial Institution
NCCO - NAFCU Certified Compliance Officer
NCIB - Net Income on Clearing Balances
NCUSIF - National Credit Union Share Insurance Fund
NCUA - National Credit Union Administration
NEV - Net Economic Value
NFCC - National Foundation for Credit Counseling
NFIP - National Flood Insurance Program
NFPA - National Fire Protection Association
NHCE - Non-Highly Compensated Employee
NOW - Negotiable Order of Withdrawal
NTSB - National Transportation Safety Board
NWR - Net Worth Ratio
NWRP - Net Worth Restoration Plan
NYSE - New York Stock Exchange
OBRA - Omnibus Budget Reconciliation Act of 1993
OCC - Office of the Comptroller of the Currency
OCCU - Office of Corporate Credit Unions
ODFI - Originating Depository Financial Institution
OFAC - Office of Foreign Asset Control
OFCCP - Office of Federal Contract Compliance Programs
OFHEO - Office of Federal Housing Enterprise Oversight
OFIA - Office of Financial Institution Adjudication
OIG - Office of Inspector General
OMB - Office of Management and Budget
OSHA - Occupational Safety and Health Administration
OTS - Office of Thrift Supervision
P&A - Purchase and Assumption
PAC - Political Action Committee
PCA - Prompt Corrective Action
PCB - Permanent Capital Base
PCS - Preferred Capital Shares
PCSA - Primary Capital Share Account
PDFI - Participating Depository Financial Institution
PFI - Primary Financial Institution
PIN - Personal Identification Number
PMI - Private Mortgage Insurance
PMSA - Primary Metropolitan Statistical Area
POS - Point of Sale
PPI - Producer Price Index
PSR - Payment System Risk
QRC - Qualified Return Check
QRP - Qualified Retirement Plan
QTL - Qualified Thrift Lender
RAM - Reverse Annuity Mortgage
RAP - Regulatory Accounting Principles
RBNW - Risk Based Net Worth
RCPC - Regional Check Processing Center
RCRA - Resource Conservation and Recovery Act
RD - Regional Director (NCUA)
RDFI - Receiving Depository Financial Institution
REFCO - Resolution Funding Corporation
REMIC - Real Estate Mortgage Investment Conduit
RESPA - Real Estate Settlement and Procedures Act
RFP - Request for Proposal
RFPA - Right to Financial Privacy Act of 1978
RICO - Racketeer Influenced and Corrupt Organization Act of 1970
ROA - Return on Assets
ROE - Return on Equity
RSA - Rate Sensitive Assets
RSF - Rate Sensitive Funds
RTC - Resolution Trust Corporation
SAIF - Savings Association Insurance Fund
SAR - Suspicious Activity Report
SBA - Small Business Administration
SCUAP - Small Credit Union Assistance Program
SDS - Same Day Settlement
SEC - Securities and Exchange Commission
SEG - Select Employee Group
SEMP - Stock Exchange Medallion Program
SEP - Simplified Employee Plan
SEPP - Simplified Employee Pension Plan
SET - Secure Electronic Transaction
SFAS - Statement of Financial Accounting Standard
SFHA - Special Flood Hazard Area
SIMPLE - Savings Incentive Match Plan for Employees
SMBS - Stripped Mortgage-Backed Securities
SMSA - Standard Metropolitan Statistical Area
SSA - Social Security Administration
SSCRA - Soldiers’ and Sailors’ Civil Relief Act
SSI - Supplemental Security Income
TAAPS - Treasury’s Automated Auction Processing System
TIAC - Thrift Institutions Advisory Council
TILA - Truth In Lending Act
TIN - Taxpayer Identification Number
TIP - Treasury Investment Program
TIPS - Treasury Inflation Protection Securities
TISA - Truth in Savings Act
UBIT - Unrelated Business Income Tax
USPAP - Uniform Standards of Professional Appraisal Practices
VA - Veteran’s Administration
VAP - Volunteer Achievement Program
VAR - Value Added Reseller
VEVRAA - Vietnam Era Veterans’ Readjustment Assistance Act
VLP - Volunteer Leadership Program
WAL - Weighted Average Life
YTD - Year To Date
ZCB - Zero Coupon Bond
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