Products & Services
Which is NOT a qualified product/ service to receive GBR credit?
A. Money Market
B. Holiday Savings
C. Auto Loan
B. Holiday Savings
When do you start earning money with GBR?
Gold or Emerald.
At what point does a loan show incomplete?
10 days.
How much does Emerald level earn?
$9 per month.
When members 'refer a friend', does the $25 get added into the new/existing members GBR share 99?
Yes.
What service does not qualify for GBR?
A. E-Banking/Mobile Banking
B. E-Statement
C. Telebanking
C. Telebanking
How many products/ services is considered "Gold" level?
6-7 Products
If a loan is paid off before the month end, will it count for GBR credit for the month in which it was paid off?
It will not count as a GBR credit as the loan needs to be open at month end in order to receive a point.
What is the purpose of GBR?
To offset any fees accrued throughout the year.
Do we look at the last day of the month, or the last business day for evaluating members relationship levels?
The last day of each month.
Is E-Pay inactive after 60 or 90 days?
After 90 days e-Pay will become inactive and will not count as a point towards GBR.
True or False: Business members qualify for GBR.
False.
How many points do members earn towards their relationship level if they have multiple loans?
Members earn a point for every loan they have. Example-2 auto loans and a visa= 3 points.
What percent do you get back on your Loan Interest Rebate?
10%.
When an account is incomplete and the member has brought the loan/account back to good standing when will the relationship be updated?
The relationship screen will update at the end of the month when GBR runs.
Ashley has a savings account, checking account, direct deposit, e-banking, 2 auto loans, credit card and a personal loan. How many products/services does she have and what is her relationship level?
Emerald/8
Can members view their relationship screen? Where?
Yes, members that have E-Banking can view their relationship screen when they login, under the 'services' tab.
Do members claim the loan interest rebate they receive on their taxes like they do the GBR credit payout?
No the loan interest rebate is not counted as year to date dividend.
What's needed to qualify for the Loan Interest Rebate?
Emerald on December 31st.
How often does a member have to use their checking or savings account before it becomes inactive?
90 days.
Dave has a savings account, checking account, daily shares, a home equity loan, participates in e-pay, ATM Visa debit with 15 or more debit card transactions per month, and a Visa Credit Card. How many qualifying products and services does Dave have and what is his relationship level?
Dave has 7 qualifying products and services and his relationship level is Gold.
How much is the fee when you are copper?
$5 per month.
If a loan is paid off during the year, does the member get the loan interest rebate from that loan?
Yes, as long as the member is Emerald on December 31st, they will receive the loan interest rebate on any loans paid off during that calendar year.
What level do you have to be at by the end of the year to receive the reward?
At least Gold.
Are GBR funds credited back to members at the end of the year considered taxable income?
Yes, members would have to return the funds and their Dividend year to date would need to be updated so the amount isn't included on the 1099.