Merchant Services - Service provided to allow businesses to accept credit and debit card payments from customers.
Mobile Banking - Mobile banking allows consumers to complete banking transactions and access account information from a mobile device using an app. With the CSB Mobile App, customers have the ability to transfer funds, pay bills, access statements and much more.
Mobile Deposits - Mobile deposits are deposits made through a mobile banking app.
Money Manager - Money Manager is a tool offered to personal online banking users to help track spending, create and manage budgets, add accounts from other financial institutions, and set financial goals.
Mortgage - A mortgage is a specific type of loan for the purchase of property secured with collateral, often the property itself, and is an agreement between lender and borrower.
Mortgage Lender - A mortgage lender facilitates loans for residential property with products such as mortgages, refinances, and HELOCs.
Mutual Fund - Mutual funds are made up of a group of investors who come together to buy a various number of investments, including stocks and bonds. This allows the risk and gains to be shared by a larger group of people. Mutual Funds may be a way to diversify your investments.
Net Worth - Calculation of all of your assets minus your liabilities. In other words, it is the value of everything owned after subtracting what is owed on those items.
Nonsufficient Funds (NSF) - NSF is a status of an account that does not have enough funds to cover transactions. This is also called insufficient funds.
Online Banking (OLB) - OLB is a way to access account information electronically. With OLB, customers have the ability to transfer funds, pay bills, access statements and much more.
Overdraft (OD) - An overdraft occurs when an account balance is negative. Fees may be charged in the event of an overdraft.
Payable on Death (POD) - An arrangement between a bank and a customer to designate beneficiaries for an account.
Phone Banking - Service to conduct banking transactions and check account balances by following prompts over the phone.
Point-of-Sale (POS) - Type of transaction completed with a credit card, debit card, or mobile pay either in person or online.
Positive Pay - An automated fraud detection tool for businesses to help identify check & Automated Clearing House (ACH) fraudulent activity.
Powerful Tools - Powerful Tools is a CSB term referring to our digital banking products and services.
Power of Attorney (POA) - POA refers to a legal document in which a person is assigned authority to make financial decisions on behalf of another individual.
Prime Rate – A benchmark used for setting interest rates and is based on the federal funds rate set by the Federal Reserve.
Principal - The amount due on any debt before interest or the amount invested before returns.
Private Mortgage Insurance (PMI) - An insurance policy that provides coverage for mortgage lenders if the borrower defaults on the mortgage.
Property Insurance - An insurance policy that provides coverage to the owner of a structure and its contents in the event of damage or theft.
Property Taxes - A tax assessed on real estate by the local government and is usually based on the value of the property (including the land) owned.