The site navigation utilizes arrow, enter, escape, and space bar key commands. Left and right arrows move across top level links and expand / close menus in sub levels. Up and Down arrows will open main level menus and toggle through sub tier links. Enter and space open menus and escape closes them as well. Tab will move on to the next part of the site rather than go through menu items.
Basic Checking: No-minimum-balance account with Visa debit card access and overdraft protection.
Dream Auto/RV Loan: Vehicle loans with rate reductions for on-time payments.
Dream Certificate: Flexible certificate account with rate bump and partial withdrawal options.
Dream Rewards Checking: Premium checking account earning points for transactions, loan payments, and certificate balances. Points redeemable for cash back, gift cards, and travel.
Dream Round Up Savings: Rounds up debit card purchases and deposits the difference into a high-yield savings account.
Fast Funds: Short-term loans with quick approvals and instant deposits.
Learn & Earn Account: Teen account combining checking and savings with financial education tools.
Muriel: Cyprus’s Digital Assistance. Muriel is the name given to Cyprus Credit Union’s suite of digital tools, honoring the credit union’s first full-time employee. These tools include:
Muriel In-Lobby Teller (ILT): A self-service machine that allows members to perform transactions such as deposits, withdrawals, transfers, and balance inquiries. Members can also connect to a live video teller for personalized assistance.
Muriel Chatbot: An AI-powered virtual assistant available on Cyprus CU’s website and mobile app to answer questions, guide users, and provide quick support.
Muriel AI Phone Assistant: An automated phone system that helps members with account inquiries, balances, and common requests without waiting for a live representative.
Visa Cash Back Card: Credit card offering 1.5% cash back on purchases.
Visa Low-Rate Card: Credit card designed for low interest rates and balance transfers.
Visa Rewards Card: Credit card earning points redeemable for travel, merchandise, and gift cards.
Account Agreement: Contract outlining terms and conditions of an account.
Account Balance: Total funds in an account after all credits and debits.
ACH (Automated Clearing House): Electronic network for transferring funds between accounts.
Annual Percentage Rate (APR): Yearly cost of borrowing money, including interest and fees.
Annual Percentage Yield (APY): Annual return on a deposit account factoring in compound interest.
ATM (Automated Teller Machine): Machine for cash withdrawals, deposits, and balance inquiries.
Available Balance: Funds available for immediate use after pending transactions.
Beneficiary: Person or entity designated to receive funds or benefits.
Certificate (CD): Savings product with a fixed term and dividend or interest rate.
Deposit Hold: Time a bank holds funds from a deposited check before making them available.
Electronic Funds Transfer (EFT): Movement of money electronically.
Medallion Stamp: A stamp certification used in the transfer of securities, helping to prevent fraud by verifying the authenticity of a signature, the signer’s legal capacity, and their authority to act.
Money Market Account: A savings account that offers better rates for higher returns while allowing withdrawals at any time.
Notarization: The process of certifying a legal document such as real estate deeds, wills, or powers of attorney to verify authenticity of signatures of all parties involved.
Overdraft Protection: Service covering transactions when funds are insufficient.
Overdraft Protection Transfer: A service that automatically moves money from your savings or another account to cover overdrafts in your checking.
Prime Rate: The prime rate is a benchmark interest rate used by financial institutions, including credit unions, to set rates on various types of loans—especially variable-rate loans like credit cards, home equity lines of credit (HELOCs), and some personal loans. The prime rate typically moves in step with the federal funds rate, which is set by the Federal Reserve.
Routing Number: A routing number is a nine-digit code used in the United States to identify a financial institution in transactions. It’s sometimes called an ABA number or routing transit number (RTN).
Swift Code: A unique code that identifies a specific bank for international wire transfers. Also known as a Bank Identifier Code (BIC). Cyprus does not have a SWIFT code, only our routing number.
Verification of deposit (VOD): A document used in loan applications, generally for mortgages, to verify the cash deposit an individual has listed on their application.
Certificate Account: A type of savings product offered by credit unions that earns a fixed interest rate over a set period of time. It’s similar to a CD (Certificate of Deposit) at a bank, but credit unions call them certificates instead.
Dividend: The share of earnings that a credit union pays to its members as a return on their deposits. Since credit unions are member-owned, not-for-profit financial cooperatives, they return profits to members in the form of dividends rather than interest.
Field of Membership (FOM): The group of people eligible to join a credit union, often based on employer, location, school, or membership in an organization.
Indirect Lending: When a credit union partners with car dealerships or other vendors to offer loans at the point of sale.
Member: Unlike banks that have customers, credit unions have members—because you're actually a part-owner when you join.
NCUA: The NCUA stands for National Credit Union Administration. It is an independent federal agency in the United States that regulates and supervises credit unions to ensure they operate safely and soundly, insures deposits at federally insured credit unions through the National Credit Union Share Insurance Fund (NCUSIF), similar to how the FDIC insures bank deposits, and provides protection for members’ funds up to $250,000 per individual depositor.
Share Account: This is the credit union version of a savings account. Your initial deposit of $5 buys a "share" in the credit union.
Share Draft Account: Equivalent to a checking account at a bank. It allows you to write checks and use debit cards.
Amortization: Paying off a loan over time through regular installments of principal and interest.
Balloon Payment: Large payment due at the end of a loan term after smaller payments.
Collateral: Assets offered to secure a loan that are subject to seizure on default.
Collateral Protection Insurance (CPI): A lender-chosen safeguard when borrowers lack full coverage car insurance as required in their loan agreement. This insurance is for the benefit of the lender, not the borrower, and does not provide the legal coverage required by the state. Additionally, CPI will increase the loan’s monthly payment amount until proof of the required insurance coverage is provided.
Compound Interest: Interest calculated on both principal and previously earned interest.
HELOC (Home Equity Line of Credit): A revolving line of credit secured by the equity in your home. It works much like a credit card—you can borrow up to a certain limit, repay it, and borrow again as needed during the draw period.
ITIN Lending: Providing loans and financial services to individuals who use an Individual Taxpayer Identification Number (ITIN) instead of a Social Security Number (SSN).
Principal: Original amount borrowed or remaining balance on a loan.
Refinancing: Replacing an existing loan with a new one for better terms.
Bill Pay: Online service to pay bills electronically.
Card Controls: Feature to manage debit/credit card settings.
Home Banking: Cyprus CU’s online banking platform.
Mobile Deposit: Depositing checks via mobile app.
Cash Advance: Withdrawal of cash using a credit card, often with higher fees.
Credit Limit: Maximum amount you can borrow on a credit card.
Credit Score: A credit score is a three-digit number that represents your creditworthiness—how likely you are to repay borrowed money. It’s based on your credit history, including your payment habits, debt levels, length of credit history, and types of credit used.
Grace Period: Time during which you can pay your balance without incurring interest.
