Basics
The PIN is typically entered making this type of purchase
What is a debit transaction
A debit and a Credit card
A debit is only used from funds in checking
A credit card is attached to a credit line, not the checking
DD
Direct Deposit
POS
(No not referring to what dan calls machines)
Point of Sale
CP
Courtesy Pay
What is the minimum amount needed to open an an account with us?
What is $5
Member number and MICR
Member number is attached to savings
MICR is for the checking
DTI
Debt to Income
The minimum account balance needed on a business checking account to avoid a $10 monthly fee
$2500
HELOC
Home Equity Line of Credit
The agency that protects your money in the credit union
What is NCUA
Home Equity and Personal Loan
Home Equity has collateral attached, higher lending amounts
Personal loan has no collateral attached and has a max amount of $50k
TD
Turn Down
(DENIED!)
The daily debit card limits for Genius and Opportunity Checking
Genius: $7500
Opportunity: $4000
PLOC
Personal Line of Credit
How much one person is insured for with no joint owners or beneficiarys
$250,000
IRA and 401k
IRA: Saving money for retirement
401k: Saving money for retirement contributed by yourself and your employer
POI
Proof of Income
or
Proof of Insurance
CD Penalties for early withdrawl
14 months or less: 90 Days of Interest
Over 14 months: 180 Days of Interest
EFT
Electronic Funds Transfer
This 3rd party company may send out a check to DTE every month automatically
Bill Pay
EFT and ACH
An EFT can be set up to make payments from another institution to a members Genisys loan
An ACH is set up thru a company to have the payment automatically taken out of the members account
ATM
Automated Teller Machine
TGIF!
THANK GOD ITS FRIDAY!
ACH
Automated Clearing House