Skip to main content

Online Services Glossary

We’ve developed this glossary to help you understand any unfamiliar financial terms or definitions you may find in Online Services or FCC Mobile.

Term Definition
Accrued interest Interest that has accumulated but not yet due as of the end of the stated period.
Active loan Loans that are currently outstanding and not paid off
Alliance ID The unique identifier assigned by the retailer for each customer.
Annual interest rate Rate of return, expressed as a percentage of principal, charged on borrowed money for a specified term.
Approval expiry date The date that the approval of a particular application ends.
Available Credit The amount of credit remaining for a revolving loan or credit line.
Borrower A company or individual responsible for repayment of the loan.
Capitalization The conversion of past due, accrued interest or unpaid fees into principal, resulting in an increase in the principal amount of a loan.
Close loan Loans that have been fully paid and have been closed within the past 18 months.
Closing outstanding balance The amount remaining at the end of a period.
Credit The total of all amounts subtracted from the opening balance during the stated period.
Credit limit The maximum amount of credit approved for a revolving loan or credit line.
Crop year(s) Represents one full cycle of crop production.
Debit An amount recording a sum owed.
Description Describes the activity on your loan.
Disbursement Funds advanced from a borrower(s) available credit.
Due Date The date on which payment must be paid.
Effective date The date the transaction impacts the loan.
End of amortization The date the loan is to be fully repaid based on your current repayment schedule.
Fees Fees are payments made in exchange for services.
Guarantor Any company(s) or individual(s) who guarantee to repay a loan in the event that the borrower defaults.
Insurance premium(s) The amount of money paid for an insurance policy.
Interest The charge for borrowing money.
Interest rate on past due The rate charged on past due amounts.
Issue date The date the statement was prepared.
Loan rate history A summary of past lending interest rates for a defined period on a loan.
Maturity date The last day of the term for a loan agreement.  The loan should either be paid in full or renewed for a new term by this date.
Next payment due The amount needed to pay back at the next predetermined interval, including past due.
Nickname A name that easily identifies/personalizes your loan.
Opening outstanding balance The amount brought forward at the beginning of a period.
Original loan amount The amount approved on the loan agreement.
Outstanding balance The total principal owing on a credit/loan agreement plus any past due items, but excluding interest on past due and accrued interest.
Paid amounts The amount paid (includes principal, interest, fees and insurance premiums).
Parties to the loan Any person(s) responsible for repaying the loan.
Past due Loan payment(s) not made as of their due date, including any interest charged on the missed payment(s).
Payment due date The date on which payment must be paid.
Payment frequency The term for how often payment is made.
Posted date The date the transaction is processed to the account. This is not necessarily the date for which the transaction is effective.
Principal Paid The portion of the payment that reduces the amount of principal owed.
Principal balance The amount borrowed or still owed, excluding interest.
Remaining amortization The time (shown in years and months) remaining to payout your loan.
Total Payments The amount paid (including principal, interest, fees and insurance premiums).
Total Year to Date (YTD) Paid The sum of all payments for the customer's fiscal year. 
Transfer Transaction describing a movement of funds.
Unapplied funds Funds held temporarily when a borrower's payment is more than their required payment.

Questions? Please call our Customer Service Centre at 1-888-332-3301.