Auto Loans
True or False: DFCU will finance a Salvaged Vehicle (Orange Title).
FALSE
NO ZOMBIE CARS
What is our AS LOW AS rate for DFCU's Credit Card?
13.9%
True or False: DFCU will service a member’s mortgage for the entire term unless paid off or refinanced with a different financial institution.
True!! This is an AMAZING feature of DFCU mortgages
What deposit products for business do we offer?
CD's
Checking account
Saving Accounts
IMMA
Name two Credit Card referral cues.
Person comes in to convert an UTMA/b-day shows they just turned 18.
Member doesn't already have a credit card through DFCU
Can a paid off vehicle be refinanced for his equity (value)? Yes or No
Daily Double: Why might someone choose to refinance their vehicle after it’s been paid off? (name two distinctly different reasons)
Yes
Consolidation of Unsecured Debts
Have emergency funds
What does unsecured mean? What unsecured loans does DFCU offer?
There is no collateral, Personal Term, Personal Line of Credit and Credit Cards.
What are 3 features of the Gratitude Mortgage? What is 1 Benefit?
Features: Down payment as low as 1%, lower closing costs, and no PMI
Benefit: Save Money
What Business loans do we offer? (name 4)
SBA
Commercial Mortgages & Lines of Credit
Credit Card
Auto Loan
Equipment Loan
Name at least 4 of the 6 industries that qualify for the Gratitude Mortgage.
Education, law enforcement, fire department, healthcare, emergency services and military personnel.
What is the maximum number of years old a vehicle can be to be considered acceptable collateral?
11 years
What is the maximum DFCU will lend on an unsecured Loan?
What is the maximum DFCU will lend on a Credit Card?
$10,000 Loans
$15,000 Credit Cards
What are the qualifications for a vacation home or 2nd home
The subject property should be at least outside a 30-mile radius from the primary residence. The subject property must be in a vacation/resort area.
How do you refer a member to Allen Hamie or Angel Gibson?
MWR Call back request in OnBase
What are 3 possible cues from a member that may indicate a need for an Auto Loan?
Can have multiple variations of answers:
Consolidate credit card debt (using cash-out refi of vehicle)
Repairs needed on older vehicle
Drove to the branch- no car loan seen in DNA profile
What is the minimum loan amount for a vehicle loan?
What is the maximum amount for a vehicle loan?
$3000 to $150,000
range for 2018 and newer is:
$5000 to $150,000
2017 and older is:
$3000 to 50,000
Classic Cars (25 years +)
$3000 to $150,000
What does DTI mean?
Why would someone be denied for an unsecured, but approved (with conditions) for a secured loan?
Underwriters look at Debt to Income ratio to see paya back.
Unsecured loans have a significantly higher rate AND they do not have an asset to back the loan if it defaults: ie Personal loans are much more risky because of being unsecured.
Explain how an ARM (adjustable-rate mortgage) term of 10/6 affects the payments for a member?
The rate and payment are fixed for 10 years. The rate will adjust every 6 months thereafter.
Does Al Credit Help small business set up retirement for employees?
NO, Al can consult the business owner on their own retirement, he cannot set up retirement for employees.
State the features of the Home Equity Line of Credit that related to the following Benefits:
Saves Money
Connivence
Lower interest rates than credit cards
Member as access to there line of credit in branch, over the phone and Online and can move money whenever needed
Who & What qualifies for an AutoCheck?
new or used card (2018 or newer) bought from a dealer, NO-Cosigner, YES-coborrower, A or B tier credit
What is our current AS LOW AS rate for our
PLOC & Personal term
PLOC 17.5%
Personal Term 15.24%
What is the Minimum and maximum loan amount for a primary home equity?
Bonus:
What is the minimum and maximum loan amount for a secondary resident?
Max is 750K, Min 10k Primary
Max is 250k, Min 10k Secondary
What does DFCU's Treasury Management do?
Name three products they manage.
Positive Pay, ACH Payment Services, Remote Deposit Capture, Sweep Services,
Extra: Merchant Services
Name Four Cues that indicate a member might be a good fit for our business products.
Answers will vary.
Depositing a check from themselves from another institution.