Forms & Letter Requests
True or False: A member requests to open a checking account for their minor son who is an existing member. As long as all account owners will be the same on the new checking, an additional 97MI does not need to be completed.
True. If the requestor wanted the new checking to be opened without an individual who is on the savings a new application would need to be completed.
Members have ___ days to repay their OOPS, after which the coverage will be frozen for up to ____ days. If OOPS has not been repaid by ____ days the account will charge off.
30, 45, 60.
When a POA on file alert is present, what 2 documents had to have been submitted?
A POA Cover Sheet and a notarized Power of Attorney designating an Attorney in Fact.
A member requests temp checks at the branch- where would the note be placed and for how long?
Member level for 1 year expiration.
A member requests to apply for a new auto loan- after pulling up their account you see a "Prom Note Not Received" but the loan is no longer visible in LOUI to record the LDR. How would you proceed?
An OLC must be submitted to Consumer Lending with a scanned image of the signed prom note for recording. The alert may then be removed.
True or False: You submit a loan application that is reviewed and approved by another MSR. You can print and record the signed promissory note and disburse the draft for the member.
True.
True or False: If there is a Guardian/Conservatorship alert on a profile the member may still access the accounts and conduct business just like if a POA on File alert is present.
False. If there is a court appointed guardian for a member that member cannot access the accounts. Only the Guardian or Conservator may conduct business on behalf of the member.
A member comes in to pick up their pre-ordered cashiers check. Where would the note be placed and for how long?
Member level for one year.
When are initials on a promissory note required?
Initials are only required when a member accepts GAP.
When completing an ASAC and the member has direct deposit what must be completed to ensure the members direct deposit is temporarily routed to the new account? How long is this request active for?
A Notice of Change (NOC) must be submitted for each direct deposit the member receives. Requests remain active for 45 days.
A member visits the branch wanting to open a new certificate- after pulling the members profile you notice a Bankruptcy on File alert, what would you do next?
Verify if the bankruptcy is discharged by searching the member notes for one stating the bankruptcy was discharged. If a note is not present you must call to verify the status before proceeding. If the bankruptcy was indeed discharged the member is eligible for new accounts.
A Non-Member visits the branch to cash a Navy Federal check, does a note need to be recorded in USD? If yes, what information must the note include and how long would it be placed for?
No note is required when cashing Non-Member checks regardless of ID presented or dollar amount.
A member comes in and requests the last 6 months of statements- then states they also need you to stamp and sign them. How would you proceed?
Advise the member a statement verification request must be submitted and will be completed within 24-48 hours.
You must have the member sign into Navy Federal Online first as opposed to Mobile Banking for Bill Pay to properly sync.
A member wishes to make a payment on their loan but they have a fatal alert on their account. Can a payment be processed? How would you perform the transaction?
Yes, payments can be processed on accounts with fatal alerts under express mode in Encore.
When placing a note for a wire- where would it be recorded and how long is the expiration?
Member level for 3 year expiration.
True or False: Domestic wire forms are only required when a member is sending $5000 or more, and international wire forms must be submitted for every request.
True.
A member presents a foreign check for deposit- explain how we would process this transaction.
We must provide the member with a Special Collection Notice (NFCU 162), scan this and a copy of the check to attach to an OLC, print an image of the OLC and include all 3 documents in a FedEx envelope to send for processing. Advise the member it can take 4-8 weeks to process the request.
A member visits the branch to pay their charged-off checking and open a new account. What must you do to process this request?
You MUST contact LCR to verify the payment amount, process the payment in Encore, remove the checking charged-off alert and add the checking charged-off paid in full alert with the full account number, and proceed with opening the new account.
A Member requests to Cash a HELOC check- if a note is required what needs to be recorded and for how long?
A Member Level note including the check number and amount will be placed for 60 days.