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 us know there is an error on their account
What is 60 days after the statement was sent
These are the types of Stop Pay we offer
What is Share Draft and ACH
This is who can look and see if a Title was received
Who is Everyone with Portico access
EFT
What is Electronic Funds Transfer
Minimum dollar amount required for filing a SAR for Elder Abuse
What is there is no minimum, we can file for ANY amount
This is what we do when a member questions a transaction and then leaves to 'go check on it'
What is send a letter to them giving them 10 days to let us know whether the transaction is valid
True or False-
A member must fill out an ACH Stop Pay if they want to stop a loan payment we Originated.
False-They will need to fill out an ACH Cancellation form
According to our website, this is the number of states consumers enjoy our programs and friendly service
What is 36
SAR
What is Suspicious Activity Report
Documentation needed to open an account at Star USA
What is government issued photo identification, tax ID number, street address
The document that details account ownership information
What is the Member Account Agreement
The entity that insures our credit union deposits
What is the NCUA - National Credit Union Administration
The area of a loan disclosure that details the terms, rate, etc.
What is the Fed Box
OFAC
What is Office of Foreign Assets Control
What to do when you have a failed OFAC
What is go to the OFAC Sanctions List Search Page and search again, if it still fails, contact Jennifer and/or Laura
These are the 2 items needed in order for a member to dispute a fraudulent check that cleared their acct
What is a Police report and an Affidavit of Forgery (or Postal Inspector Report if it was stolen out of the mail)
This is the amount of time we must wait before issuing a Stop Pay on a Cashier Check we do NOT have in our possession
What is 90 days - this is a UCC reg
What is TruStage, AD&D, and $1000
USA Patriot Act
What is Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001
Two of the five things required for a BSA Program, also called the five pillars of BSA
What are Designation of a BSA Officer, Internal Policies and Procedures, Employee and Volunteer Training, Independent Testing (Audit), and Procedures for Conducting CDD.
Hold schedule/amounts for a $12K check received for deposit
What is:
Same Day $275
Second Business Day $6725
Seventh Business Day remaining $3K
The reason we cannot refund an Inactive Fee
What is because the account has not been active? That isn't an error - AND the WV regulations on Dormant Accounts don't like it when we do!
The main difference between a credit union and a bank
What is the structure - we have a volunteer board and a not-for-profit status