IRA's
What is the difference between a Traditional IRA and a Roth IRA?
Traditional is pre-tax dollars
Roth is post tax
When does the christmas club deposit?
Day after thanksgiving
How many checking accounts do we offer?
Four.
2 Business
2 Personal
What is the monthly transfers limit to an external institution?
$5000
What is the grace period for consumer loans and mortgage/heloc loans?
Consumer = 10 days
Mortgage/HELOC = 15 days
Name the 4 types of IRA's
Traditional
Roth
SEP (Simplified Employee Pension)
Coverdell ESA (Education Savings Account)
What are 4 saving accounts do we offer?
Primary, Secondary, Christmas Club, IRA Accumulator, High Yield Money Market
Name at least 4 free products offered with the dividends checking.
ID Theft
Box of Checks
Cashier's Checks
Money Orders
Travel Cards
Activity Alerts
Can businesses link their personal account to their online banking?
No. they can only link business accounts to personal banking.
How do you find someone's credit score in Episys?
IQ - Tracking 38 or 50
What is the difference between a rollover and a transfer?
Transfer:
Unlimited amount of transfers, Tax info not reported to IRS and Member does not have access to funds at any point.
Rollover:
Can only be done once per year, has 60 days to deposit, is reported to the IRS
Name every certificate product we offer on personal accounts
Regular Certificate
Bump Certificate
IRA Regular Certificate
IRA Bump Certificate
U Save Certificates
Access Certificates
What does standard ODP cover?
What does extended ODP cover in addition and what is the max dollar amount?
Recurring debit, in branch cash withdrawal, ach, bill pay and checks.
Everyday debit. ATM withdrawal $750 on personal, $1000 on business
What is zelle's default limit and how can it be raised?
$1000, call MSC
Auto
RV
Signature
What is the max contribution amount for a coverdell esa per year? And at what point can they no longer deposit into it?
$2000 and once the child turns 18.
What certificate(s) have a $250,000 limit?
Access and U Save's
What is the max rewards points earned on a rewards checking and what are the categories?
1000 points
1. Direct deposit of $1000 or more
2. Using debit/credit card 25 times
3. Access online banking
4. Make a loan payment on time
What is card swap and why is it useful?
You can set up all your subscriptions so that when you change cards, card swap does it automatically.
Can we do loans at the branch?
Yes, ODLOC and VISA if done at the same time as account opening.
If it's the members RMD and is a charitable donation.
on Roth IRA's:
Meet the 5 year test and are disabled, buying their first home, 59 1/2, or are deceased
What is the early penalty on all certificates?
90 days of interest on terms of 12 months and shorter
180 days of interest if longer than 12 months.
Name at least 2 differences between the business checking accounts
1. Basic business has no fee / Money market is $10
2. Money Market earns interest
3. Basic has 200 free transactions, then 0.15 per transaction
4. Money Market 0.10 per transaction
How do members enroll for ID theft monitoring and what can you have it monitor?
Online banking - Services - Credit Score Monitoring
Name at least 10 loans we offer
Auto
ODLOC
Visa
In-Vitro
RV
Student
E-Cash
HELOC
SBA
Secured Visa
Credit Builder Loans
Signature