Enter Title

Checking

100

What are the features for the MyDesign Checking account? What are the requirements to open? How many are allowed per member?

• Free foreign ATM transactions (the $1 fee for using an out-of-network ATM is waived) 
• Free Cashier’s Checks
• One (1) free box of checks every year

Credit Score 0 or 600+

No limit but only one feature rich option allowed

200

What are all the checking accounts Langley offers?

MyDesign

Platinum Checking

Spend Account

Essential Checking

Free Checking

300

What are the features of the MyDesign Worry Free Option?

• All the MyDesign Checking features
• Free overdraw transfers from Savings, Money Market, LOC, or Credit Card
• Two (2) monthly refunds of ATM surcharges, up to $10
• Two (2) monthly refunds of Courtesy Pay/NSF fees, whichever two come first

400

What are the features of the MyDesign Ride Rebate Option? How must payments be made?

• All the MyDesign Checking features
• 10% rebate on interest paid on Langley Auto and EV loans
• On-time, self-directed payments from the Ride Rebate Option or All-In Bundle to the Auto/EV loan required
  • Payments must be done in Digital Banking or scheduled in Symitar (BillPay, ACH payments, Payment Center, and ACH distributions will not generate an interest rebate)
  • Payments must be made from the same member number on the loan. Cross account transfers are not allowed 
  • Rebate is paid during the goodnight process after the loan payment
  • Minimum reward is $5
  • Rebate does not apply to RV, boat, motorcycle, personal, or LOC loans
  • Auto/EV loan must be on the same member account as the Ride Rebate Option

500

What is the Essential Checking Graduation Program? How does a member qualify for graduation?

ESSENTIAL GRADUATION WILL BE REINSTATED IN JUNE 2025. 

The Essential Graduation program automatically converts an Essential Checking account into a MyDesign Checking once the account qualifies. Employees do not need to use the Convert Checking tool.

To qualify for graduation, members must:

1. Maintain at least $5 in their primary Savings account.

2. Meet the Primary Checking requirement for six consecutive months.*

3. Maintain a positive or zero balance in the checking account at the time of graduation.

The graduation program will automatically remove the Essential Checking warning codes, remove deposit restrictions, remove the $200 Courtesy Pay limit, and allow external transfers in Digital Banking. A program runs on the 2nd of every month to determine who will graduate. Members will then receive a communication from Marketing letting them know they will graduate on the 17th of the month. 

Savings

100

What savings accounts are limited to 1 per member?

Langley Saves, High Yield Savings, Platinum Money Market Savings

200

This Savings Account requires a minimum to open of $100. Unlimited withdrawals and deposits allowed.

Money Market Savings

300

This savings account pays higher dividends than a traditional savings account. It earns dividends when the average daily balance is $25,000.00 or more. Unlimited deposits allowed. One (1) free withdrawal allowed every month.

Platinum Money Market

400

What type of account does not allow a High Yield Savings account?

Business Accounts

500

What Savings Accounts can be added as Overdraw Transfers for checking accounts?

Savings, Secondary Savings, and Money Market Savings

Special Accounts

100

What is a Guardian Account? Who may do transactions on this account?

A Guardian account is an account, opened by a guardian, to transact business on behalf of someone else. Effective 2013, no new Guardian accounts for minors are to be opened.

Guardian accounts are always individual accounts.  The guardee is the owner of the account and must have been under the age of 18 at the time the account was established.    No joint owners are allowed on a Guardian account.  A maximum of two guardians may be listed on the account. 

Name Type : Authorized Signer 

The guardian may make an unlimited number of deposits to the account. 

All withdrawals must be made by the guardian and the transaction receipt signed using the format below. 

The guardian should sign in this format:  

• Guardian’s name, Guardian.  (Ex: John M Doe, Guardian)

200

What is the name type for custodian on an UTMA account? What file maintenance needs to be done when opening an UTMA account?

Trustee

Add Custodians mailing address "C/O Mary M Doe, Custodian"

Add comment "UTMA TRANSACTIONS ONLY BY TRUSTEE" and set to expire on minors 21st birthday

300

What are the requirements to open a Trust Account?

• for a revocable trust, all Grantors must be Langley members.
• for an irrevocable trust, all Grantors must be Langley member and/or all beneficiaries must be Langley members.
• Certification of Trust, which must include the following items:
  • Name and date trust was signed;
  • Name of Grantor/Settlor;
  • Name and address of current Trustee;
  • Trustee's powers;
  • Whether the trust is revocable/irrevocable (and name of anyone who can revoke);
  • Any Co-Trustees and what authority they have to act together or separately;
  • Trust's EIN/TIN;
  • Title of trust assets (for example, "John Doe, Trustee, on behalf of the John Doe Family Trust Dated July 29, 2008");
  • A statement that the trust has not been revoked, modified, or amended in any way which would cause this certificate to be incorrect;
  • The signature of any Trustee.
• Verification of the SSNs of all Trustees;
• Verification of the Trust's EIN/TIN;

400

What is required to open a Rep Payee account? What is the name type listed as for a Rep Payee? What file maintenance needs to be done when opening a Rep Payee Account?

• We must be provided documentation from the Social Security Administration indicating the appointment of the Representative Payee for the member/Beneficiary OR
• from the Department of Veterans' Affairs indicating the appointment of the Fiduciary for the member/Beneficiary
• Name Type : Authorized Signer
• File Maintenance: Add Rep Payee mailing address "C/O Mary M Doe, Rep Payee" Add comment “Transactions allowed only by Mary M Doe as Rep Payee.” 

500

What are the requirements and documents required to open an Estate Account? What is the name type and file maintenance? 

• Certificate of Qualification appointing Estate Representative 
• Original death certificate with seal 
• Estate's tax ID (TIN) number (not a SSN)
• If deceased was not a member, Will (listing beneficiaries) or List of Heirs (as provided to the Court)
• If deceased was not a member, all beneficiaries of the Estate must be a member

Name type is Trustee

Add mailing address "C/O Mary M Doe, Estate Representative"

Loans

100

What are the Credit Score requirements for Langley's credit cards?

Essential - Under 640

Select, Quint, Cashback - 640 or higher

200

What is the Max unsecured loan amount? 

$40,000

300

What are the loans Langley offers?

1. Personal Loan: Unsecured, fixed payments, $100 - $40,000, terms of 12-60 months (up to 96 months for larger amounts).
2. Line of Credit (LOC): Open-end, variable rate, $500 - $40,000, no term, monthly payments based on balance.
3. Credit Builder Loan: For establishing credit, $500 - $2,000, terms of 12 or 24 months, variable rate.
4. Auto Loan: Secured by a vehicle, $1,500 minimum, terms of 12-84 months, fixed rate.
5. Savings/Certificate Secured Loan: Secured by savings, variable rate, no maximum limit based on shares.
6. Boat, Watercraft, and Recreational Vehicle Loans: Similar to auto loans.
7. Credit Cards: Open-end credit with specified limits, variable rates based on credit score.
8. Home Equity Lines of Credit (HELOC): Secured by property, variable rates, various term options.
9. Mortgages: Fixed and adjustable-rate options available for home purchases.

400

What is the difference between Coborrower(Comaker) and Cosigner?

Co-Borrower (Co-Maker)
- Applies jointly with the primary borrower.
- Benefits from the loan proceeds.
- Their income and debts are combined with the primary applicant’s. 

Co-Signer
- Signs as a condition for granting credit but does not benefit from the loan proceeds.
- Responsible for repayment if the primary borrower defaults.
- Must qualify for the loan based on their own income and debts.

500

What type of Business Loans does Langley offer? What are the limits?

• Business Lines of Credit, up to $25,000
• Business Credit Cards, up to $50,000
• Business Vehicle Loans, up to $100,000

Commercial Loans over $100,000 or Commercial Mortgages should be referred to the Commercial Lending department through a Salesforce referral or a member may call 757-280-3260.

Misc.

100

What is the Financial Education Resource on Langley's Website called?

BALANCE

(Learning Center)

200

For Minors, when are they eligible to open a general membership and/or have a debit/spend card in their name?

As long as there is a parent or legal guardian joint on the account and they meet BSA, including minors Social Security Card and Valid Government Issued Photo ID

300

What are the 4 items that need to be verified for BSA?

Legal name

Date of Birth

Identification Number- SSN, ITIN, EIN

Address

400

What are the daily limits for:

ATM Withdrawals?

Purchases?

• Daily ATM withdrawal limit:  $1,000

• Daily purchase limit:  $15,000

If the system is offline, members have an ATM withdrawal limit of $300 and a debit card purchase limit up to $1,000. Debit cards issued to members with credit under 600 have an offline withdrawal limit of $60 at an ATM and debit card transaction limits of $250.

500

What are the requirements and limitations to open an Essential Checking Account? What warnings are added to an essential checking account? 

• $5 monthly service fee is debited from the Essential Checking on the last day of each month
  • Service fee is reimbursed if the member has actively used digital banking or made a debit card purchase during the month. The fee reimbursement shows as a Fee Deposit in Symitar and Svc Fee Refund in digital banking.
• Direct deposit or hand-carried paychecks
• $20 minimum deposit to open (not a minimum balance requirement)
• Debit cards for Essential Checking accounts are not issued until the member’s direct deposit begins.
  • If the system is offline, debit cards have an ATM withdrawal limit of $60 and transaction limit of $250. Normal limits apply when system is online.
• Eligible for Courtesy Pay after 90 days, with a maximum overdraw tolerance of $200
• Warning 70 – No Checks Without Approval
• Warning 160 – RDC CU Revoked
• Warning 211 – Restrict All Shared Branch Deposits
• Warning 214 – External Transfer Revoked by CU
• Warnings are added at the account level with no expiration date during the goodnight process.