BOD/Systems
The account servicing and cash handling transactions processed at a branch and sent to Headquarters daily or weekly depending on the type of form, voucher, etc.
Branch Work
Refers to a rewards program that returns to you a percentage of the total amount spent on your credit card over a specific period of time, usually monthly or quarterly. This feature is particularly useful if you normally pay your credit card bills in full each month, as it means you get an effective discount on the products bought with your credit card.
Cash Back
Individual who agrees to take responsibility for a loan if the primary borrower does not pay. The co-signer does not receive or benefit from the loan proceeds, and his or her credit score is not used to determine the risk tier or the pricing of the loan.
Co-signer
What does CIP Stand for?
a. Cash Intensive Program
b. Customer Information Program
c. Customer Identification Program
d. Customer Information Program
Customer Identification Program
The required process of having two team members present to perform the task of verification of currency at a branch.
Dual Control
The unique number imprinted on a credit card.
Credit Card Number
Credit cards or loan accounts, such as a line of credit, without a maturity date. Some terms, such as APR, can be changed while the account is open.
Open-end Loan
After the terrorist attacks on the United States on Sept 11, 2001, the USA PATRIOT Act was passed to amend the Bank Secrecy Act
True or False: One of the components of the USA Patriot Act requires Navy Federal’s BSA/AML Compliance Program to include a Customer Identification Program
True. One of the additions to the BSA made after 9-11 requires Financial Institution to have Customer Identification Program
The back end of UAD or the place from which UAD is pulling information. Also known as the green screen.
Sessions.
A debit or credit card with an embossed, encoded, or printed expiration date that has passed.
Expired Card
An open-ended, revolving loan in which the borrower may access money up to the assigned limit, pay it back, and borrow it again.
Line of Credit (LOC)
Select all that apply. What information does Navy Federal obtain to verify the identity of individuals
a. Date of birth
b. Place of birth
c. TIN or SSN, or EIN or ITIN
d. Name
e. Physical Address
f. Sponsor Information
g. Marital Status
a. Date of birth, c. TIN or SSN, EIN or ITIN d. Name, e. Physical address
An application used by Navy Federal employees to access member information and assist members with their financial needs. It is an Internet-based, front-end application that provides the ability to perform various account-related functions, such as transferring money and researching member account inquires.
Universal Agent Desktop (UAD)
One of Navy Federal's debit cards. The card can be used for withdrawals at ATMs or used to make purchases. When the card is used for a purchase, the cardholder can select "credit" or "debit" to begin the transaction.
Visa Check Card (VCC)
The repayment period, as stated in the product definition and the mortgage note.
Loan Term
The membership application is denied if there is no response to the CIP or the documents submitted have not fulfilled the CIP requirements within how many days
a. 10
b. 15
c. 30
d. 60
30 days
The system used to track payments of Navy Federal drafts.
SMS Sessions (SMS)
This account was designed with military life in mind. It has ATM fee rebates up to $20 on Plus® System ATM transactions, , no minimum balance requirement, no monthly service fees, pays dividends on any balance, FREE military or traditional wallet or wallet duplicate checks for the life of your account, unlimited check writing and optional Overdraft Protection (Line of Credit).
Active Duty Checking
The Navy Federal branch that consists of the following sections: Credit Research, Consumer Loan Disbursement, and Endorsement Verification/Loan Cancellation.
Consumer Loan Processing Branch
The operating name of a company, as opposed to the legal name of the company
Doing Business As (DBA)