Financial Glossary

Please see the list below of some financial terms that are commonly referred to on this Web site.

ACH: Automated Clearing House transactions can be used to pay your utilities, credit card bills, and much more. If you have to pay a bill at a business that does not accept online payments and you're tired of writing checks and licking stamps, you can set up an ACH to have that amount manually drafted from your account and sent to the business.

College Scholarship Award: Pelican offers up to ten $500 College Scholarship Awards each year to graduating high school seniors. Sign up for a Pelican State CU Youth Account today and earn your way towards college tuition.

Debit Card: Directly linked to your checking or savings account, a debit card can be used to make purchases or use at an ATM. The money is instantly removed from your personal account at the time of transaction. A debit card is not a credit card and cannot be used to borrow funds or make a 'charge.' Apply for a free Visa® debit card from Pelican Bank CU today!

Dividends: Dividends are taxable payments that you earn on your deposits with us. For example, you earn money (dividends) each quarter based on the funds you have in your Regular Shares Account. We calculate our dividend rate and your average account balance to determine your payment.

e-Access: e-Access is our free online banking and bill pay service that allows you to securely access your account 24 hours a day. You can take advantage of many of our completely paperless electronic solutions through your e-Access account.

e-Pay: This online bill payment service is available to our members free of charge. You can pay your bills with a click of the mouse! If Pelican isn't your only financial institution, you can upgrade your e-Pay product to perform bank-to-bank transfers and send gift checks. Pelican State CU also offers Business e-Pay and online payroll services, specifically designed to make your company finances flow with ease.

Jumbo IRA: An Individual Retirement Account (IRA) is an account that allows you to save money for your retirement with possible tax advantages and possible tax-free earnings. Our Regular IRA Certificate has a minimum deposit of $10,000. See our current rates to view our available Jumbo IRA Certificates

Jumbo Share Certificate: Also known as a Certificate of Deposit (CD), this deposit account is an alternative way to save your money. Share certificates are offered in different terms and interest rates. Your funds are held until maturity and then you can withdraw your money, plus the interest you've earned. Our Jumbo Share Certificate has a minimum deposit of $10,000. See our current rates to view our available Jumbo Share Certificates.

Pelican Teller: Call this automated telephone system to access your account 24 hours a day, 7 days a week. You can make share withdrawals, transfer funds, make loan payments, and get listings of your drafts, deposits and more. Learn more about Pelican Teller or call 225-408-6100 (1-800-351-4877 toll-free) to get started!

Regular IRA: An Individual Retirement Account (IRA) is an account that allows you to save money for your retirement with possible tax advantages and possible tax-free earnings. Our Regular IRA Certificate has a maximum deposit of $9,999.99. See our current rates to view our available IRA Certificates.

Regular Share Certificate: Also known as a Certificate of Deposit (CD), this deposit account is an alternative way to save your money. Share certificates are offered in different terms and interest rates. Your funds are held until maturity and then you can withdraw your money, plus the interest you've earned. Our Regular Share Certificate has a maximum deposit of $9,999.99. See our current rates to view our available Share Certificates.

Roth IRA: This IRA provides an easy and safe way to plan for the future. It offers unique incentives to boost your retirement savings. Compare Roth vs. traditional IRAs for more information.

Traditional IRA: This IRA offers tax-deferred earnings and the possibility of tax-deductible contributions. These tax advantages make the traditional IRA a powerful tool in creating a balanced, long-term savings plan. Compare traditional vs. Roth IRAs for more information.

Unsecured Loan: Also known as a signature or personal loan, an unsecured loan is not backed by collateral.