Share Insurance
What is the max amount of beneficiaries that can be added to increase share insurance coverage on an individual account under NCUA?
What is five
What must happen for a member to get the $100 Freedom at Work bonus?
What is a $50 direct deposit into a checking account per pay period within 90 days of account opening
What is the minimum balance on Money Markets?
What is $2500
True or False: A VLOC can be accessed at an ATM
What is true.
What does IRA stand for?
What is an Individual Retirement Account
NCUA provides an extra $ amount to IRAs, how much additional coverage is awarded?
What is $250,000.
Who is eligible to receive the bonus?
Who is anyone who works for an employee partner
What is the fee assessed if the balance goes below the minimum balance?
What is $10
Can a member use their VLOC as overdraft protection?
What is yes.
If the Roth IRA owner is 59 ½ or older, deceased, disabled, or the a distribution qualifies as a first-time home purchase in addition to the IRA being opened for 5 years what perk becomes available?
What is earnings on a Roth IRA may be withdrawn tax-free
Bob and Steve are on an account together with savings, a checking, and a Roth IRA. What is the NCUA Coverage for membership including the IRA?
What is $500,000 for checking and savings $250,000 for the Roth IRA.
Who gets free Skip a Pays?
What is Golden Apple
What is one thing you cannot use a money market for?
What is overdraft
Can a member choose their own due date for a VLOC?
What is no. Bonus: It must be on the 28th of every month.
Traditional and Roth IRA share the following eligibility requirement for contributions?
The IRA owner must have earned income during the year for which the contribution is being made.
True or False: A member can utilize their share insurance on their annuities.
What is false.
What is the credit limit and interest rate on our educator visa?
What is $1000 and prime rate
What is the max amount a money market can have which will cap the rate?
What is $100,000
How often is the $7 overdraft fee charged when funds are transferred from the VLOC?
What is daily after the first day of transfers in the month.
IRA owners can contribute up to -------% of their annual income as long as it does not exceed the annual IRS contribution limit?
What is 100%
Name the 5 types of accounts that are covered under share insurance.
What is:
- Savings, checking, CDs, Money Markets, and Trust Accounts.
What is the interest rate on the Educator Savings?
What is 2.5% for the first $10,000 and .35% for everything in excess of $10,000
What is the max dividend earnings that a money market can earn with the required dollar amount needed?
What is .95%
When does the interest rate change on a VLOC?
What is anytime there is a change in prime or the request for an increase and there is a new credit pull.
The deadline to make a regular contribution is the income tax filing deadline for the current year’s federal income tax return?
What is April 15 of the following year.