Loans
If someone asks about home loans, can you tell them what our home equity and home improvement loan rates are?
YES. Word it as "as low as" and then quote the 3 year home equity rate and 3 year home improvement loan rate. You do not need to be an MLO (Mortgage Loan Originator) to give that information out.
If someone has a home loan application and they have questions, you CAN help answer them (if you know the answer).
A member wants to transfer money to friend. The best suggestion to do this if they don't know their routing and account number is this.
What is Digital Wallets, Apple Pay, Samsung or Google Pay?
Remind members that this only works between like devices - apple to apple.
Fraudulent or otherwise illegal, unauthorized, or improper act or process of an individual that uses the resources of an older person for personal benefit, profit or gain is called ______.
What is elder abuse or elder financial exploitation?
This organization or group started North Iowa Community Credit Union back in 1956?
What is the Trades and Labor Union.
Deposits are insured up to what amount by NCUA/ NCUSIF per single ownership account.
$250,000
Number of open NICCU Credit Cards as of 12/31/22.
What is 958?
Only 632 were active in December.
This service lets members know when a deposit is made in their account.
What are transaction alerts or alerts.
From 12/31/21 to 12/31/22, NICCU grew _____% in Assets totaling _________.
What is 18.15%, $103,286,109.60?
NICCU Grew:
22.32% in Tot Loans = $89,892,652.61
19.45% in Shares = $93,685,878.33
The counties that are included in our Field of Membership?
What is Butler, Cerro Gordo, Floyd, Franklin, Hancock, Mitchell, Worth, Winnebago, and Wright counties?
Backed by the full faith and credit of the U.S. government, this independent agency of the US regulates and insures the accounts of millions of account holders in all federal credit unions and the vast majority of state-chartered credit unions.
What is NCUA (regulates, charters, and supervises) or NCUSIF (National Credit Union Share Insurance Fund)?
The amount of real estate loans on the books with NICCU is this.
What is $9,946,208.49?
Caller: "My Homebanking isn't working". Steps we can take to troubleshoot before sending on. Name at least 1.
What are: 1) Verify they have an online banking account, 2) make sure HB isn't locked, 3) make sure they are using correct email, 4) reset password,or 5) reset security questions?
Minimum for checking account that pays dividends?
What is $250 for premium checking?
Do credit unions pay taxes?
Yes, in Iowa, we pay monies and credits tax which is different from business income tax. We also pay on property, sales and payroll.
Federall CU's are exempt from incomes and monies and credits tax.
NCUA covers many types of share deposits received at a Federally Insured Credit Union including blank.
What are Share Draft, Savings, Time Deposits (CD's).
Does NOT include: Stocks, bonds, mutual funds, life insurance policies, annuities or municipal securities nor safe deposit boxes.
It costs roughly
(a) this amount to make a penny coin.
(b) this amount to make a nickle coin.
What is: (a) 2 cents and (b) 7.5 cents?
When last estimated (2018), It's estimated that cent production cost the US taxpayer an extra 85.4M and nickle production an extra 33.5M than it makes.
This service provides the security of knowing that funds are available should members make an error in their checkbook or emergency cash is needed in a hurry.
Hint (tied to a checking account).
What is Courtsey Pay?
Account with no checks, courtsey pay, overdraft protection, ATM deposits or bill pay.
What is Fresh Start Checking?
The most recent push to update the Iowa Credit Union Act is being called a CU modernization bill. Name 1 thing it is pushing to modernize.
Hint: MJ sent an email about this on 2/9.
The CU Bill update would:
1) Assist credit unions with finding quality board members by providing:- Flexibility in the number of required board meetings - The ability to compensate board members for their service
2) Strengthen the member expulsion process, make clear that abusive behavior to staff is grounds for expulsion, and better protect the privacy of staff and members.
3) Provide the Superintendent of Credit Unions flexibility to approve corporate investment opportunities for credit unions.
4) Update the list of entities from which credit unions can obtain a letter of credit to secure public deposits.
NICCU is governed by a Board of Directors, how many directors currently serve?
9.
Scott, Mark Brosz, Mike Shannon, Roger Eskildsen, Jake Schweitzer, Vicki Ginder, Mae Miles, & Herman Meyer.
Dollar amount of new dealership loans in 2022. (New loans funded)
Bonus: Number of new loans from the dealerships in 2022.
What is $34,758,673.23?
Bonus: 1,217 loans
The first ATM launched in this decade in London.
What is the 1960's?
John Shepherd-Barron is credited with the invention of the Automated Teller Machine (ATM). The first ATM was set up at a branch of Barclay’s bank on a street in Enfield, London in June 1967. In 1970, a British engineer called James Goodfellow created the concept of a personal identification number (PIN).
Only this percentage of the world's currency is in cash.
The vast majority of the world’s currency exists in electronic form. Economists estimate that coins and banknotes make up just _____% of the world’s currency.
What is 8%?
The rest sits on a computer hard drive in electric bank accounts all over the world. Because of the worldwide acceptance of the internet and online payments, people are making and spending money without actually touching it.
This meeting of the members is a huge part of what makes credit unions so different from banks. It is here that the membership gets to choose the volunteer Board of Directors for the credit union. You also get to hear about the plans the credit union leadership has for the year. Members have the opportunity to be involved in making your credit union better!
What is the NICCU Annual Meeting?
IF a CU is liquidated
(after the state has stepped in AND NCUA stepped in to help manage
AND no other CU has come forward to purchase the failing credit union),
THEN this would happen.
What is: The NCUA would either transfer the insured member's account to another federally insured credit union or give the federally insured member a check equal to their insured account balance. This includes the principal and posted dividends through the date of the credit union’s liquidation, up to the insurance limit.