An agency that collects and distributes credit histories of individuals and businesses. The three main credit bureaus are Equifax, Experian, and Trans Union. Credit rating A formal evaluation of an individual's credit history based on employment, credit, and financial information. It is often composed and evaluated by banks and credit cards companies before extending credit to an individual. Credit union Offering all the services of a bank, these cooperative organizations are chartered by a state or the federal government.
Credit unions get their capital from their members and makes loans to their members.
The procedures and practices used to protect sensitive information on computer networks and servers. Online banks devote considerable resources to data security in order to protect consumer information. Only by ensuring the security of data can they continue to operate and attract consumers. Direct dial banking Not commonly used in the US, direct dial banking requires dialing a specific phone number to connect to a bank's online system. Encryption Allows for the transfer of information securely between your computer and the bank's computer.