Credit Union Terminology
A person who owns a share in the credit union.
Who is a member
Credit Cards pull funds directly from a checking account.
What is False.
An account used for direct deposit, debit card purchases, and paying bills.
What is a checking account
SAR
What is Suspicious Activity Report
What are our Core Values?
What are Respect, Integrity, and Collaboration
This report is completed when a member conducts cash transactions totaling more than $10,000.01 in a single business day.
What is a CTR (25 bonus points if you know what it stands for)
Both bank customers and credit union members own the financial institution itself.
What is False, only credit union members own the financial institution itself.
What is online banking, mobile app, Comm Center, Shared branching by phone
NSF
What is Non-Sufficient Funds
To provide high-quality financial services and education to help our members, communities, and employees reach their full potential.
What is our Mission Statement
This term describes a person designated to receive funds from an account upon the account owner's death.
What is a Beneficiary
Non-members can make deposits into a member's account.
What is True
These products allow members to borrow up to a limit and pay it back over time.
What are credit cards and lines of credit
ACH
What is Automated Clearing House
A community where everyone reaches their full potential.
What is our Vision Statement
A type of account our members may have from another financial institution that members can see on their online banking or mobile app.
What is an External Account
What is True
This helps members prepare for life's "what ifs" by creating documents that protect their family, assets, and future wishes.
What are Wills & Trusts Services
GAP
Guaranteed Asset Protection
You can trust our financial formula. We've got banking down to a science.
What is our Promise Statement
This law helps prevent money laundering and financial crimes.
What is the Bank Secrecy Act
All wire requests must include the purpose for the transfer, regardless of the amount being sent.
What is False
This account typically offers higher dividends while still providing access to funds.
What is a Money Market Account
CD
There is an order in which we should view things to help us put things together. Who comes first? the _____, the _______, and then __________. (fill in the blanks)
What are the Member, the Team, and then Myself