CUNA MUTUAL
What are the 4 products that we offer through CUNA Mutual?
Guaranteed Asset Protection (GAP), Mechanical Repair Coverage, Credit Life , and Credit Disability
What loan service allows a member to skip payments for June, July, and August?
Seasonal Skip
How long is an express draft good for?
45days
What Conversation point reveals the Purpose and Motivation of the Applicant
Discovery
What must be on a VALID Paystub?
Full Name, Employee #, Gross Pay, Period covered, Pay Rate, Hours worked, Company Name and contact info
How much does GAP cost? What does it now cover?
$499, covers deductibles
What are the requirements for a Member to opt into Skip-A-Pay?
12months of on-time payments
How much is the Autocheck fee?
$10
When doing a projection for a member or applicant, what is the phrase you should ALWAYS use?
As low as
Who is the company we use for CPI?
State National
Can a member cancel Credit Life or Credit Disability after the loan has funded?
Yes
The member has a 30 days free look
What is the credit score range for a member to qualify for a Flex Auto Loan Plan?
600 or less (E tier)
What happens when MLA pops up during an express draft application?
Switch to a Doc Draft
What does it mean to keep your cool?
To not dump a bunch of product knowledge on our members. It can be overwhelming.
After purchasing a Vehicle/Boat/RV/Motorcycle, how long does the borrower have to inform us with their insurance information?
30 Days
Can GAP and MRC be added to a loan after it has been funded?
Bonus 100 points: If so, how does their payment change?
Yes.
Bonus: Their payment does not change because they have to pay for it out of pocket.
Seasonal Skip is only available to who?
Educators and other schoolboard members
What does MLA stand for? How long is it good for?
100pt Bonus: What does it protect them from?
Military Lending Act, 30 days
Bonus: Predatory Lending
What kind of questions should we be asking our applicant?
Open Ended Questions
What 4 pieces of information do you need for a balance transfer?
BT Card Issuer, BT Card Number, BT Amount, BT Payment Address
What are the three MRC tiers? What is the Max mileage for each?
Platinum 80K miles
Silver 100k
150k
How long does it take for a balance transfer to be completed?
Up to 25 Days
If a borrower pays down their principal balance on the loan, are we able to re-amortize the loan for a lower monthly payment?
No, once the loan has been created that payment will be the payment for the length of the loan.
When do you position your role?
100pt Bonus: How do you position your role?
After engagement
Bonus: Let the Member know who you are their personal advocate at the credit union
What are the 3 different ques for loan applications?
Your personal que, the underwriting que and the funding que