Objections
How can you respond when a member says "I need to talk to my partner"
This product is best used to earn more interest on your funds but it is not liquid.
CD (Certificate of Deposit)
Doing a balance transfer with SCFCU can save a member money monthly on this.
What is interest payments
If you hear a member driving when they call in, what can you ask them to uncover a need?
Where is your car currently financed? When was the last time you shopped for Auto Insurance?
"I dont want my money tied up where I cannot access it"
Which product can you access like cash, is revolving, expires, and has a 15 day grace period?
Personal Access Line of Credit (PAL)
Craig's Burgers LLC is sending $250 via external transfers to their account at Navy Federal. How many days will it take for the funds to be deposited into their other bank?
Business Accounts cannot use external transfers.
Member has $100,000 in their Savings Account, what would be the best option for the member?
Would need to ask questions to determine, Investments, CD, or MM would be best fit for the member.
"I've been with my other Financial Institution for years."
What is it you like more about your other F.I.? What feature do you like most at your other F.I? What features do you wish your other F.I. had?
This type of account is fee free for the first 12 months as long as the member meets the requirements.
Bank at Work Checking accounts
Kevin Kosco's Money Matters LLC wants to set up a business CD. Who should you refer him to, to set it up?
Which of these is not a valid reason to open a PAL?
Emergency Funds, Upcoming Vacation, Home Repair, Vehicle Repair, Catch up on Utility bills, or Purchase furniture
"I dont do online"
I can understand technology can be frustrating, Can you help me understand what your biggest concern is about using Online Banking?
How is a Money Market similar to a Checking account?
Can be used as OD source and check writing privileges.
Where can you look for a quick glance to see what you can offer members?
NEXT tool/ Recommendations Box
What are some phrases that you can ask to get more understanding from the member?
Can you tell me more... How do you feel about... What are your hesitations...
This product can help members save money while also protecting them in the event of an accident.
Auto Insurance.