Features
Receive these for the life of the account.
What are free Cloc Checks
Freezing or Closing CLOC
Who is Consumer Loans
The CLOC status changes to this when it is first used
What is Active
The member must apply for this when they want to obtain a loan to clear the overdrawn balance.
What is a debt consolidation loan
This will generate a $10 fee for the member
What is drawing over the CLOC limit
Credit Limit Increments
What is $500-$15,000
Closing a CLOC during satisfactory account closure
Who is Advanced Account Services
The available credit will be $0.00 and the CLOC will not be available for use
What is Frozen
You transfer here when member wants to modify the minimum monthly payment
Who is Collections or Personal Finance
Advanced account services can order checks when the account status appears as …..
What is Approved - Never Active
Based on members creditworthiness at the time of applying.
What is interest rate
Opt Members out of OOPS when applying for CLOC
Who is Consumer Loans
Line of credit has been approved and is ready for use.
What is Approved - Never Active
Where you transfer if the member is defaulted on a mortgage
Who is Mortgages
Use this to see transactions without the blue highlighting
What is Savings/Checking Only
Monthly payment amount
What is $20 or 2%
Explain general CLOC, ADCLOC, or BLOC transaction history
Who are Account Services and Consumer Loans
CLOC is paid in full and closed by Navy Federal
What is terminated
Do this if member wants to unfreeze account
What is transfer to Consumer Loan applications
Interest rate range
What is 13.9% to 17.9%
Service Charge Rate
What is there are no service charges
Provide and overview of CLOC features
Who is Account Services
CLOC is paid in full and CLOC is closed by member
What is closed
What is continue to make the minimum payment of 2% or $20
This will show as an overpayment
What is a direct deposit that pays off the CLOC balance and has funds remaining