How to add a Primary Address?

Two addresses appear on the Account screen, a billing address and a shipping address. We have renamed them to Visiting address and Mailing address.

For our Spanish users it is important to have a third address available, which would be the Primary address. This address must be available to be a able to assess credit requests.

This third address can be added to the related information section for Account addresses. However, there is no value "Primary address" in the Address Type picklist field.

Is it possible to add this value to the picklist? I have tried to find a way to edit the picklist but it looks like it's a standard Oracle picklist that cannot be managed by me as an admin.