Company Knowledge
Greater Texas is organized as this type of financial institution.
What is a credit union?
This account helps members save money while earning dividends over time.
What is a savings account?
This law protects consumers from discrimination in lending.
What is the Equal Credit Opportunity Act (ECOA)?
Emails requesting passwords or account information are often this type of scam.
What is phishing?
Employees should always verify this before discussing account information.
What is the member's identity?
Unlike banks, these individuals are the owners of a credit union.
Who are the members?
This account is designed for everyday spending and typically includes a debit card.
What is a checking account?
This law requires financial institutions to help detect and prevent money laundering.
What is the Bank Secrecy Act (BSA)?
This authentication method requires two forms of verification.
What is multi-factor authentication (MFA)?
Members should never share this online banking information with anyone.
What are passwords or login credentials?
This governing group provides strategic oversight for the credit union.
What is the Board of Directors?
Members often use this revolving line of credit for purchases and balance transfers.
What is a credit card?
Financial institutions verify customer identity under this federal requirement.
What is the Customer Identification Program (CIP)?
Employees should immediately report this type of suspicious member activity.
What is potential fraud?
This policy helps protect confidential member information.
What is Privacy Policy?
This key difference separates credit unions from traditional banks.
What is member ownership/non-profit?
This loan is commonly used to finance a vehicle purchase.
What is an auto loan?
This law protects consumers' nonpublic personal information.
What is the Gramm-Leach-Bliley Act (GLBA)?
This department typically investigates suspicious financial activity.
What is the Fraud Department or BSA/Compliance Department?
This procedure should be followed whenever suspicious activity is identified.
What is reporting it according to company procedures?
This philosophy emphasizes putting members first rather than maximizing profits.
What is the credit union philosophy?
This mortgage option generally offers the same interest rate throughout the life of the loan.
What is a fixed-rate mortgage?
A transaction over this amount in cash generally requires a Currency Transaction Report.
What is more than $10,000?
This report may be filed when suspicious transactions indicate possible money laundering.
What is a Suspicious Activity Report (SAR)?
Employees should only access member accounts when needed to perform this.
What is their job duties or legitimate business purpose?