Plan that helps you determine whether you earn enough money to cover your expenses and save.
Fraud technique consisting in creating a copy of a debit or credit card to make purchases on behalf of someone else.
Organization that belongs to its members. In a cooperative, services are adapted to meet the needs of the member-owners who use these services and who also share the profits. Your Caisse populaire is a cooperative and, as a member, you are a part owner.
A sum of money loaned to someone to carry out a project, make a purchase or cover unexpected expenses. An agreement between the lender and the borrower is necessary to determine how and when the debt will be paid back.
Card that lets you buy now and pay later.
File containing an individual’s history in terms of credit, work experience, debt repayment (late payments, bankruptcy, etc.) and the list of organizations or individuals who have inquired about their credit payment history.
The maximum amount of credit extended to an individual applying for a personal loan, student loan, credit card, etc.
Rating attributed to a person based on their repayment ability. The person’s credit rating is based on their debt amount, as well as on their debt (e.g., a loan) and bill (e.g., credit card, utilities, etc.) payment history. The more you make your payments on time, the higher your credit rating.
An amount paid on invested principal and on the total interest yielded by this investment over the previous years.
Ex.: The 1st year, the C aisse populaire gives you, for example, $5 in interest on a $100 investment. The 2nd year, the C aisse populaire will pay you interest on $105, and so on.
Card used to make transactions at the ATM and buy items in store. To use it, you must enter your PIN, i.e., your personal identification number.
The debit card is sometimes called “ATM card” or “ Caisse populaire Access Card”.
A portion of the earnings that is attributed to each share of a company. The more shares a person has in a company, the greater their share of the profit is (or the greater their loss is, if the share’s value drops).
Gross domestic product (GDP)
Value of all final goods and services produced in a country or territory in a given year.
A rise in the price of goods and services in a given region or country. For example, $50 could get you more goods in 1920 than it can today because the prices of goods have edged up over the years.
A sum paid in addition to the loan amount when you borrow money or make a late payment on your account.
Interest is also money a financial institution gives you when you put money in it for a period of time or when you deposit funds in a savings account.
A percentage of the amount you invest that will be given back to you. It’s set according to the duration of the investment.
Ex.: If you invest $1,000 at 3% interest for 1 year, the C aisse populaire will give you $30 at the end of the year.
Amount of money loaned to an individual by a financial institution. There are various types of loans: mortgage loan (to buy a home), student loan, auto loan and personal loan (e.g., to buy a computer).
A sum that may be paid by a Caisse populaire to its members if its financial results allow it. Member dividends are paid from the Caisse populaire profits.
The value of money, as measured by the quantity of goods and services it can buy.
The excess of revenues over expenses of a business.
The portion of an individual’s income that is not spent and that is saved to carry out a project or purchase an item.
The stock market is a place where people (brokers) meet to buy or sell shares. A share is a certificate that proves that someone owns part of a company. Shares gain or lose value based on several factors, including the profits of a company, news that could affect the company, the economy, etc. People ask their brokers to buy or sell shares, hoping to make a profit. Nowadays, most transactions (buying and selling stock) are done online.