Important Terms
This is the type of account that must be opened to receive membership benefits at ACU.
What is a Membership Share?
This type of account is also commonly referred to as a Money Market Account.
What is a Premium Savings Account?
Members are able to withdraw funds surcharge-free at ATMs displaying MoneyPass and _________ logos.
What is Alliance One?
This Act requires each credit union to implement a written Customer Identification Program (CIP) that includes minimum requirements.
What is the PATRIOT Act?
You would file this if you were alerted to suspicious behavior or had a feeling that something was not right.
What is a Security Incident Report or SIR.
This account type can also be known as a Share Draft Account or a Demand Deposit Account.
What is a Checking Account?
This account type has a minimum opening deposit of $500 and set terms from 6 months to 60 months.
What is a Share Certificate or Certificate of Deposit (CD)?
This ACU app is for setting customized alerts, locking your card if misplaced, applying travel notifications & alerts, and even nicknaming your cards.
What is the ACU Card Services App?
This report must be filed for any transaction or group of transactions occurring in one business day, that involves more than $10,000 in cash.
What is a Currency Transaction Report (CTR)?
This tier has a Courtesy Pay limit of $500.
What is Gold Tier?
This is what credit unions call "interest earned" since our members are owners not just customers.
What is Dividend Earned?
This account type pays out on November 1st and has one of the highest dividend rates available for up to $5000 in deposits.
What is a Christmas Club?
The amount donated per credit transaction to Affinity Schools via our Affinity Program.
What is $0.10?
This is the process of using the financial system to exchange "dirty" money for "clean" money.
What is Money Laundering?
John opens a membership, checking account, and a 12-month CD. His wife, Mary, will be joint on the accounts. They would also like to put in a join loan application and Mary would like to open a Christmas Club. Their combine APNM would be _________.
What is 3.0?
(4.0 + 2.0 / 2)
This type of interest is compounding and reflects the total amount of interest earned on an investment or deposit account over a year.
What is Annual Percentage Yield or APY?
This account type is perfect for members who need help establishing credit.
What is the Visa Build Club?
This tier of membership allows you to have the full amount of your funds available same day, after a review, on a remote deposit check.
What is Platinum Tier?
True or False:
Buying a cashier's check with $5,000 in cash requires recordkeeping requirements.
What is True?
"What do you like about your current financial institution?" or "Where else are you saving?" are examples of.
What are Open-Ended or High-Gain Questions?
This refers to the required $5.00 deposit that a member must keep in their membership share account to be a member and receive services.
Hint: ACU deposits this on behalf of all our consumer members.
What is Par Value?
The amount a member can earn per qualifying swipe on the first 25 transactions per month, if they have the Christmas Club & Checking bundle.
What is $0.20?
On your debit card, these vary by tier, based on members credit and Chex System scores.
What are Daily Withdrawal Limits?
What is the Specially Designated Nationals List or SDN List?
This represents the interest you pay on debt, such as loans or credit cards.
What is Annual Percentage Rate or APR?