CASH CHECKING/SAR
What does the acronym SAR's stand for?
SUSPICIOUS ACTIVITY REPORT
Where are the robbery kits located at each branch?
1. South- in cabinet behind teller line in small rubber maid container.
2.North-in cabinet behind teller line in small rubber maid container.
What is the number of business days that accounting needs in order to set up ACH Payment?
3
A member is at the teller line asking for a mortgage loan payoff. Name 3 team members who can assist you?
1. Rumina
2. Pam
3. Lois
What day is the payment due for home equity lines of credit?
28th of each month
What are the 3 major items you should be considering when cashing a check?
1. Do they have matching funds?
2. Do they have a Direct Deposit?
3. Verify their account-look at history, negative balance, last transaction etc.?
What is the first thing you do once you've been robbed? (after robber has left the building)
You yell I've been robbed- to notify the rest of the team.
3
If a member has an emergency, can they withdraw from the escrow account?
No
How do I make a draw (withdrawal) on my home equity line of credit? (3 answers)
1. In person
2. by phone
3. internet transfer
Non-member comes in with and $800 on-us check and would like to cash it. What are the procedures on running that check?
1.Check our member account for available funds
2. Ask for Driver license and write ID number on check.
3. Run person through OFAC, make copy of Id, staple 2nd receipt and copy of id and place in Kaitlyn's box.
True of False: Place the teller that was robbed and all witnesses in the same office to share their accounts?
False, you want to separate teller and direct witnesses into separate office so stories don't get confused.
Received loan payoff- check in mail. After payment has posted. What are the 2 crucial steps you need to do?
1.check for automatic payment
2. Email Lisa and James in accounting.
If you have paperwork for a loan payoff who is the appropriate person to give that payoff to?
1. Gina
2. Amanda R if Gina is not in
How often could the rate change?
Every Month
How Can the Credit Union be held Liable if we don't comply with a SAR's
Substantial fines, reputational damage, regulatory restrictions, potential loss of banking license in serious cases criminal charges.
Please list at least 4 items that are stored in the Robbery kit?
1.Pencils
2.White Paper
3. Robbery Cards
4.Caution Tape
5.Writen Robbery Procedures
6.Closed Signs
7.Witness List
8.
What is the most important line that MUST be researched and filled out prior to submitting wire form to accounting?
The collected fund field
008 is a true escrow account-connected to a mtg loan that is restricted and is coded as batched.
001 is a share account the members open and name escrow.
If, I make a draw on my home equity line of credit for $10,000, what will my monthly payment be?
$150.00