Transactions
What information is required to be added to a check being cashing by a non-member?
Which account owners or signers has OFAC run on them during a new account opening?
All of them
Can my coworker open the night drop while I count debit cards?
No, both require dual control.
What does CTR stand for and when do you need one?
Currency Transaction Report: aggregate cash transactions of over $10k in a single day.
Explain the difference between "pre-approval" and "invitation to apply"
Pre-approval will not require a credit pull, "invitation to apply" also called "pre-qualified" will require a hard pull to approve.
Do we pull credit on business account signers?
Yes, if they are also an owner. No, if they are signers only.
What debit card operations are required to be done in dual?
Opening cards, putting into machine, posting cards in or out of vault, signing log, taking cards out, counting cards, balancing at end of day, replacing ribbons, accepting card shipments, destroying cards, destroying ribbons
Give 2 examples of when you would file an Unusual Activity Report
Examples of situations that warrant reporting include (but are not limited to):
What is the procedure for accepting an insurance check payable to the member and GreenState?
Verify what type of collateral we have, verify total claim amount with member. All named payees must sign the check. A “GreenState Credit Union” stamp can be used as part of the GreenState endorsement by a Branch Manager, ACE team member, or Mortgage Loan Officer of the Credit Union. The officer will then sign and list their title. Follow instructions in KB for each specific type of collateral.
When adding a new share to a current membership, when do we pull credit?
When opening a checking accounts, we do not pull credit for new money market or savings shares on an existing member.
A member wants to make a $5,300 withdrawal and there's no other team member available. You know this member well, the funds are collected, and they are using it to buy a car. In this case is it ok to use your ACEs code and tell them about it after?
Absolutely not. You need to find a team member that can step away briefly and provide the second code for the transaction.
What is a TIN mismatch and where do you check for any existing ones?
TIN mismatch report in Power BI or alert on members account in Symitar.
“TIN MISMATCH” means the primary account holder’s name or the Social Security Number/Employee Identification Number on file does not match what the Social Security office has.
The TIN Matching process is when every month CADS matches a member’s name and TIN (Tax ID number/Social Security Number/Employee Identification Number) against the IRS database. They primarily do this to make sure we have accurate information on file and also because we receive yearly fines from the IRS for any TIN mismatch. That IRS fine is $250 per mismatch.
What is the process for accepting signed over checks?
Both parties must be present with a valid photo ID.
The original payee endorses the check over to another person by writing “Pay to the order of” and the alternate person’s name, followed by their endorsement. The person to whom the check is now made payable (the third party), then endorses the check.
Name 5 valid proof of address documents
See KB for full list
Your vault teller is at lunch, and you need to get money from the vault. You are not trained on the vault yet but know the combination. Is it ok to go back by yourself this one time and sign both lines of the cash slip?
No, you can only go back to get the cash if you are vault trained, and you need to have a second person verify the cash that comes out of the vault matches what is written on the slip and they need to sign showing they verified it.
What are 4 red flags for potential elder abuse?
Red flag examples:
What is the procedure and any restrictions for processing a credit card advance for a non-member?
Maximum cash advance amount of $500.00 for non-members
A photo ID is required. The type of identification, identification number, and expiration date should be recorded on the Credit Union copy of the cash advance slip. The name on the card and the signature must match the photo ID. If there is no name present on the card, we will not process the cash advance.
The presenter’s thumbprint must be placed on the front of the Credit Union copy of the cash advance slip. The right thumb is preferred. In situations where that is not possible, use your judgment to obtain an alternate thumbprint substitute. No exceptions to the Thumbprint policy are permitted.
A member wants to open a new safe deposit box in July, how do you know what to charge them?
The recycler jams and the $10s and $20s show out of balance. Can you open the recycler by yourself and try to fix the balance issue?
No, auditing the recycler, even a partial audit to get it back in balance requires dual control to open any cassettes or the collection drawer.
What is a red flag complaint and when must it be reported?
A Red Flag complaint occurs when a red flag term or phrase is mentioned in writing or expressed verbally by a member, non-member, or vendor. Red flag terms and phrases could include, but are not limited to:
A complaint must be reported if a Red Flag term/phrase is mentioned; however, departmental processes must still be followed, such as a member call back or other departmental requirements.
Staff must promptly inform their supervisor of Red Flag complaints so they may be involved in the resolution. The type and level of involvement are at the discretion of the supervisor. This includes approving the proposed resolution, assisting with the solution, or other actions as deemed necessary.