Memorial Day
What percent of U.S. employers have designated Memorial Day as a paid holiday?
56%, 68%, 79%, 97%
Although 97 percent of employers have designated Memorial Day as a paid day off, more than 40 percent of companies still require at least some employees to work the holiday.
What is a class action lawsuit?
A class action lawsuit is a legal proceeding in which one or more plaintiffs bring a lawsuit on behalf of a group, which is known or referred to as a class
This branch was previously known as...
White Earth Federal Credit Union
What is escheatment?
Escheat refers to the right of a government to take ownership of estate assets or unclaimed property
Why do we put memberships into Dormant status?
Dormancy protects our members’ information and funds when they are not actively used. It ensures that additional precautions are taken including a review to ensure that we are authenticating the member thoroughly before we remove the dormancy flag/freeze.
What was the 1st state to make Memorial Day a official holiday?
Michigan, Wisconsin, Minnesota, Iowa
Michigan
What happened?
The named plaintiff, asserted three claims on behalf of himself and the purported class largely based on the contention that prior versions of the Membership and Account Agreement (which is part of our Terms and Conditions) were ambiguous as to whether members’ available balance or ledger (actual) balance was to be used in assessing overdraft (courtesy pay) fees. (It was unclear in our T&C which balanced was used)
Free checks? Tell me the details!
The Mahnomen branch has been added to the Harland Clarke website for you to use when ordering checks for the former WERFCU members, not Affinity Plus members.
Employees can use code WERFCU, which will cover the expense of their first box of standard checks.
Why do we do this?
The funds, which are considered “abandoned” will be sent to (escheated to) the State of Minnesota. The member has 120 days from June 1, 2022 to take action to avoid the funds being sent and to become an active member at Affinity Plus again.
What causes a membership to go into Dormant status?
If a member doesn’t have activity in one or more areas on their membership, a Dormant flag/ freeze would be placed:
What was Memorial Day originally known as?
Decoration Day until 1967
What have we done to remedy this?
The Terms and Conditions in question are the versions dating back to 2017 and older. In July of 2020, we updated our Terms and Conditions to add additional clarity to the section related to the assessment of fees. We made additional updates in January, 2021.
When is the last day WEFCU is opened? Month, day, time.
Mahnomen Branch will be closing at 11:00a on Tuesday, May 31st
What if they want their funds kept at Affinity Plus?
If a members contacts us, updates their address and would like to make their membership active, it can be activated with a deposit, withdrawal or by opening a new product.
What can we/member do to remove a Dormancy from a membership?
After authenticating the member, the member can perform a transaction. This will require a supervisor override and then the membership will be active.
The member can add a new product (checking acct, savings acct, etc…) In the Account Manager, we can access Dormant memberships without a supervisor override. Accessing through Account Manager allows employees to view the tree and provide balance information, etc.
What flower is traditionally worn as remembrance of those who have died in war?
Poppies
How many members has this affected?
20,062 members - including employees. If you as an employee get notice that you are included, you are more than welcome to proceed without repercussions. You... are a member as well.
When will the new Affinity Plus location open?
9:00 AM Wednesday June 1st!
How many members will this affect?
approx 882 memberships
What we can’t do to remove a Dormancy from a membership?
We can’t perform a ‘fake’ transaction (ie: move a $1 from one account to another) just to take a membership out of dormancy. By us performing a “fake” transaction, we are removing the dormancy warning code without proper/legitimate authority thus removing the “protection” on the membership which we state in our Terms and Conditions.
Which war memorial depicts six American servicemen raising a U.S. flag?
The United States Marine Corps Memorial, located near Arlington Cemetery, sets in bronze a photograph from 1945, in which five Marines and a sailor are shown raising a flag over Iwo Jima, Japan.
Did we do something wrong or illegal.. and how much will this cost the credit union?
No. Our T&C were not as clear as they needed to be, which allowed this to happen. We have taken responsibility for it and have corrected the issue.
About $1 million in total.
How will we be communicating this to our new members?
All WERFCU members who had an open membership on 5/11/22 will receive a letter which includes their member number, and a new debit card (if they had a card with WERFCU). This accounts and cards will not go live until after conversion.
A letter! Where can I find a copy of the letter being sent to members and when is it being sent?
A copy of a letter will be in The Loop. Letters will be sent out 5/31/2022, dated 6/1/2022.
What does this mean for overrides?
We should continue to follow the override process as it keeps the account dormant, as this is in place to protect the membership. Ops/Compliance are reviewing system parameters to make the process of viewing/updating dormant memberships smoother.