Accounts
What is a checking account?
A checking is designed for us to access our money by checks, debit card, ACH's, etc.
What is credit?
Measure of trust a bank gives a member for future payment of money borrowed.
Whats one main difference between the bank vs credit unions?
"Not for profit but for the people"
What is Brylee's Role? Whats Jaedens roles?
Senior MSR, Branch Manager
What is a savings account?
A specialty account designed to encourage saving
Min and Max credit score?
300 - 850
Who are credit unions owned by?
Members
What do Serena and Jason do?
Business Development
What does a minor need to open an account?
Typically will need verify identification with social security card/birth certificate and a parent / legal guardian on the account as joint owner until you become of age
What percentage of Americans have not fully paid for their homes?
60 % of Americans
Who are the banks owned by?
Shareholders
What's the minimum age requirement for to apply for CFCU?
18 years old
Are there minimum balance requirements?
Savings typically yes
Checking typically no
What is the average credit score?
697
How do credit unions handle profits?
Give back to members by offering lower loan rates, higher deposit rates, and reduced fees
How often do teams have "outings" at CFCU?
once a quarter
How much is a person federally insured for?
$250,000
What is borrowed money called? What is the name of person/entity you borrow from?
Where should you apply after highschool?
CFCU!!!