Member Service
At what age can you have a checking account?
No minimum but parent or legal guardian must be joint. Under 12 Supervisor must approve.
Can you purchase MBP without having a loan?
Yes
Frozen QT access happens after a member provides QT with how many invalid pin attemps?
3
What is financial literacy?
The ability to understand & effectively use various financial skills including personal financial management related to savings, budgeting, debt management, and investing.
When would we charge a $5 early account closing fee on a membership?
If the membership has not been open more than three months.
What is the minimum loan amount on a personal loan?
$100
When completing a CTR, what can we list as a job title?
Be specific. Retired from what. If unemployed, what did they used to do.
Name three key components of financial literacy?
Budgeting, utilizing credit or debt, taxation, income planning, and saving.
Do you pull a credit report on an existing member to open a new membership?
No
Verification of income is required when the borrower's credit score is below what score?
679 or less
What is the minimum cash we can accept without completing a CTR?Does the CU process loose coin for non-members?
$10k
What factors are used to calculate credit score?
Payment history, credit utilization, new applications, credit age, types of credit.
How much is the transfer fee from savings to checking when the CU transfers the money automatically to pay for overdrafts?
$2 per transfer.
What is the minimum credit limit on a Visa Signature Rewards?
$5000
When reviewing checks, what are three things to look for?
What type of negotiable item is it?
Is it from a local institution?
Is it an out-of-state check?
Is it a payroll check?
Are you familiar with the check?
What is the dollar amount of the check?
Is it for a large amount?
Does the check look suspicious?
Does the financial institution’s information appear on the check?
Are there erasures or other apparent alterations?
If there is a logo, is it blurry?
As a general rule, how many months' expenses do financial planners recommend that you set aside in an emergency fund?
6-12 months
What is the certificate penalty for early withdrawals on certificates less than 12 months and greather than 12 months
1 year or less the penalty is the great of 1% or dividends for 90 days. Greater than 1 year the penalty is the greater of 2% or 180 days of dividends.
What is the maximum term for financing a camper?
144 months
Who needs to sign insurance checks?
Whoever the check is payable to. The member and lienholder if both are on the check. The check must be signed we can not stamp the back of it.
If a late payment is sent to a collection agency, how long will it remain on your credit history even if you have paid it off?
6-7 years