Acronyms
ACH
What is Automated Clearing House
Trigger amount of cash for a CTR
What is more than $10K
The number of days a member has to let you know there is an error on their account
What is 60 days after the statement was sent.
Where members go to control their debit card
What is the Star Card Portal App
What is the Uniform Commercial Code
EFT
What is Electronic Funds Transfer
This is the minimum amount required for a Suspicious Activity Report filing for Elder Abuse
What is THERE IS NONE! We can file a SAR for Elder Abuse for ANY amount, if we feel it is necessary.
The number of days a member has to let us know whether a transaction they questioned is valid.
What is ten. And also, the reason we MUST send out a letter to that member the day they question the transaction(s).
Daily Debit Card Limits
What are $510 PIN based and $1500 Sig based
The reason we cannot refund our Inactive Account Fee
SAR
What is Suspicious Activity Report
Documentation needed to open an account
What is proof of identity and proof of address, supported by that identification and verified thru our Portico systems.
The document that details Account Ownership Information
What is the Member Account Agreement
The entity that insures credit union deposits
What is the NCUA
The area of information on a loan disclosure that details the terms, rate, etc.
What is the Fed box
OFAC
What is Office of Foreign Assets Control
What you do when you get a failed OFAC.
What is the OFAC Sanctions List Search webpage?
Then, if it passes, print that and scan it with the account documents. If not, contact your supervisor and Jennifer.
Documents needed from a member who had a forged/altered share draft clear their account.
What are the Affidavit of Forgery and either a Police Report or report to the Postal Inspector (if it were stolen out of the mail).
We do not wait on the police report to notify Lisa and Laura; time is critical when returning drafts.
The Regulation that governs check deposits
What is Reg CC
The amount, and the insurance company name, that provides free insurance to our members.
What is $1000 AD&D thru TruStage
USA Patriot Act
What is the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001
These are the Five Pillars of the Bank Secrecy Act.
What are:
Designation of a BSA Officer; development of internal policies, procedures and controls; employee and volunteer training; Independent Testing; and risk-based procedures for conducting customer due diligence.
The hold schedule/amounts for a $14K check received for deposit
What are:
Same day $275
Second business day $6725
Seventh business day remaining $7000
This is the main difference between a Credit Union and a Bank
What is 'the structure'. Banks have Stockholders and Credit Unions have Members and a Volunteer Board of Directors.
Documentation needed to open a Trust Account
What are:
Certificate of Trust or Trust Certificate
Identity Verification of the Grantor/Trust
Living Trust Account Card