Home Equity Products
A product offering an introductory rate of 3.95% APR for 6 months on all line limits
What is a home equity line of credit promotional rate?
Loan Extensions may be grated on these 3 products.
What are consumer loans, overdraft protection, and Visa loans.
Only this percent of those who apply for social security disability benefits actually qualify for them.
What is 35%?
What are the beneficiary wire instructions, supporting documentation, and ID?
New York State law restricts a stop payment on what until at least 90 days from issuance and only if it has been lost, stolen, or destroyed.
What is an official check?
A 5 year fixed rate loan at 6.00% APR with Automatic Payment (Summit Paid Closing Costs)
What is a home equity loan (promo)
The company that we have partnered with that facilitates our balloon loan program.
Who is AFG – Auto Financial Group (AFG)?
This is the maximum age for Life Insurance on closed end loans.
What is 65?
The cut off time for processing international wires in the branch
What is 2pm?
The stop payment on this type of check can be placed using a symform from a members account.
What is a member issued check?
An interest-bearing savings account where funds are held to pay Insurance and Taxes for a mortgage property. These funds are collected as part of the regular monthly payment for a mortgage, if applicable.
What is Escrow?
These types of loans have a 5 day grace period. Where as some Visa's, Indirect & Balloon Vehicle Loans have a 10 day grace period.
The Maximum benefit of this product is $55,000
What is Life Insurance on a consumer loan or line of credit?
A member can complete this type of wire through the virtual branch.
What is a domestic wire?
Stop payments orders on this product can be accepted from the purchaser at any time after it is issued and for any reason.
What is a Money Order?
These financial products typically come with a 15-day period before late fees are applied.
What are home equity products and mortgages?
This is the maximum amount allowed for a consolidation loan.
What is $10,000?
This insurance coverage typically includes a 14-day retroactive period for benefits to begin after a qualifying event.
What is disability insurance?
The Summit FCU does not have this code which is used to receive an international wire, so the originating foreign institution must have a relationship with a US correspondent Bank.
What is a SWIFT code?
These three types of ACH stop payments can be placed, depending on the member's situation.
What are one-time, revoked, and unauthorized?
Prime rate changes typically don't take effect right away, and instead adjust this often, depending on the loan agreement.
What is quarterly or annually?
Although most Americans are more financially prepared for death, they're actually 3 to 5 times more likely to experience this.
What is a disability?
Nearly 30% of U.S. households don't have this type of financial protection.
What is life insurance?
The cut off time for processing domestic wires in the branch or through the virtual branch is this time.
What is 3pm?
Members will receive this document to sign and return, if they have a check or money order that was issued 180+days prior, to have a stop payment placed and the funds deposited or a new check created.
What is a stale letter?