Fees
What is the over draft fee and how many can a mbr get in one day
$24.94, 5
MAD
Member Assistance Department
A team member has been helpful or has gone above and beyond
Send an EAGLE
"You're late on your payment."
"It looks like your payment is currently past due. Lets go over you options."
What are the 8 specialties you can dial when pi to MAD
Spanish, Deceased, Bankruptcy, Repo, Home Help, CO and Collections (Processors), BAT, Peer Support
What fee amount does MAD waive when taking a phone pmt
$10
HS
He said
Hardship
What is a branch stop?
A Branch Stop is a lockout/restriction on an account in DNA that restricts the account and is used when ICCU needs to control account activity due to risk or collection concerns.
On share accounts, Member Assistance may place a Branch Stop until they can reach the member to make acceptable payment arrangements, until the account is brought positive, or when funds may need to be offset to reduce a loss on another account.
"There's nothing I can do"
"Here's what I can do to help"
The Member Assistance Officer processing the request is the face of the credit union and is required to implement___________ as part of the hardship solution process.
Permanent Corrective Action
HELOCs late fee:
5% of the overdue payment, with a $10 minimum
FU
Follow Up
When to pull a credit report?
when you need it to understand member risk, identify assets, assist with skip tracing, or gather other related information for collection work. It is a soft pull.
"You should have called us sooner"
"I'm glad you reached out. Lets see what options may be available to you"
Hardship solution requests typically arise in 2 fashions and should be handled differently.
1. member contacts the credit union when they first become aware of their hardship.
2. during collection
Credit card returned payment fee
$20.00
XFR
Transfer
Types of bankruptcies
There are 6 types of bankruptcies: Chapter 7, Chapter 9, Chapter 11, Chapter 12, Chapter 13, and Chapter 15.
"I understand your concern. Let me explain why we handle this situation this way and what options we have"
Funds Protected from Offset
Right to Offset does not apply to real estate secured loans or individual retirement accounts (IRAs)
Overdraft transfer fee:
$2.50 for Share, $5.00 for Money Market, and $10.00 for High-Yield.
OTP
Phone Payment
What documents do collection agencies need?
Signed approval for legal action or debt validation
Balance history or transaction history from DNA
Payment history from Akuvo
OD Authorization
Photo ID
Signature cards
The last three statements showing the account
"If you don't pay, we're going to repossess your car."
"I want to help you avoid further collection action. Lets talk about what we can do to get you account back on track."
What is GL# 729-020
Is the Member Assistance Accounts Receivable general ledger. It is used as a holding account for collection-related expenses that ICCU expects to recover