Loans
A member has $10,000 in credit card debt and wants to move it to a lower-rate option.
What is a Debt consolidation? (CEHE or Signature Loan.)
This is the first step in creating a positive member interaction and helps members feel valued.
What is building rapport?
This account is designed for everyday spending, check writing, and bill payments
What is an easy checking?
Compares a borrower's monthly debt payments to their gross monthly income and is a key factor in underwriting.
What is the Debt-to-Income (DTI) ratio?
These types of questions encourage members to share more information about their goals and needs.
What are open-ended questions?
This starter savings account helps members grow their savings while keeping funds accessible, earning 3.00% APY on the first $5,000.
What is an Aspire savings?
This is the process of evaluating a borrower's credit history, income, debts, and collateral to determine lending risk.
What is underwriting?
A member asks for a checking account, but during conversation you learn they are struggling to save money. This is the next step.
What is listening to nonverbal ques?
his account allows members with a High-Deductible Health Plan to save and use funds for qualified medical expenses while receiving tax benefits.
What is a Health Savings Account (HSA)?
This federal regulation requires lenders to provide consumers with a Loan Estimate within three business days after receiving a complete mortgage application.
What is Regulation Z?
A member says they don't qualify for the product they wanted. This is how you should end the conversation.
What is putting in a referral to help our members financial wellbeing?
This appointment, made by a federal agency serving former military members, creates an account relationship in which deposit eligibility is limited to one specific federal benefit source, account access is restricted to the appointed representative, and the beneficiary's personal banking relationship must be maintained independently to prevent commingling of funds and statements.
What is a VA Fiduciary Account?
This federal law requires lenders to provide fair and equal access to credit without discrimination.
What is Regulation B / Equal Credit Opportunity Act?
A member leaving feeling valued and supported.
What is a great member experience?
This outside partnership provides borrowers with coaching support and allows loan payments to be automatically deducted through payroll.
What is an ERN Bridge Loan?