CDs
Can we add a beneficiary to just a CD?
Yes
When are credit cards due?
The 1st of every month.
What three checking accounts do we offer?
What is the grace period for consumer loans? EI. Personal, auto, fixed home equities.
10 day grace period.
What is the difference between POD and Beneficiary?
Nothing, they are interchangeable within the CU.
Does a member need to sign to open a CD?
No, we just need to make sure to verify member and the CD information.
What is the benefits of a CC?
Build revolving history for CBR, good for emergency, and good back up incase debit card gets blocked. Also, good revolving "loan" for those who always do $1,000 around Christmas.
What is the fee for Fresh Start?
$5.35/$5 plus tax.
What does a member need to qualify for a credit builder loan?
What is needed for a beneficiary to get the funds from deceased account?
Death certificate and proper ID.
Can the member take out money from a CD? If so, is there a fee?
Yes and yes, an early withdraw fee.
Can someone with no credit, get a credit card?
Yes, we now offer a credit builder credit card program.
What is the limit for each account for debit and credit?
Fresh Start - 250/500
Basic Blue - 500/3000
Greater Checking - 1000/5000
What is a HELOC and what are the benefits?
Home equity line of credit. You have access to the equity in your home and can take it out as needed, and make interest only payments if needed. Once you pay it, it becomes available again. You can transfer funds on mobile banking, in person or over the phone. Draw period is 10 years.
When does Power of Attorney cease?
At time of death.
What is the benefit of a CD?
You can earn interest on your non-moving money and still have access to it in case of emergency.
What is the minimum CC payment?
3% or $25, whichever is more.
Can the same tax ID number have multiple Greater Checkings?
No, they can only have one per tax ID number.
What are we missing if you see CPI placed on an auto loan?
Correct insurance information for the vehicle?
If there is a joint on a deceased persons account, can they get the remaining funds out and close account?
Yes, they can still transact, and we can even change them to primary and remove deceased persons so the account can stay open.
What is the difference between the APR and APY?
APY takes compound interest into account (the total rate when dividends are redeposited back into account), APR is just the annual rate paid on the funds.
What is our AS LOW AS intro interest rate for credit cards?
1.99% for 12 months, tiered depending on credit score.
What three requirements does a member need to meet to be paid out on Greater Checking?
20 debit card transactions totaling $100 or more, $100 direct deposit or more, and be enrolled in eStatements.
What is our max rate on loans?
21%.
If no one is listed as beneficiary or POD, what do we need for a deceased account and what do we do with funds?
We need death certificate and executor paperwork (if there is one). The funds will get cut in a check to the Estate of (NAME).