Credit Union Membership
What is the newest way to qualify for membership at SCFCU?
What is make a donation to TriUnity Foundation?
What is the leading international trade association and development agency for credit unions and cooperative financial institutions?
Who is the World Council of Credit Unions?
What Government agency provides insurance for the money held at a credit union so that it can't be lost in case of a catastrophic vent?
Who is the NCUA? National Credit Union Association.
What makes credit unions different from banks? a. Credit Unions are not-for-profit b. Credit Unions give every member a credit card c. Credit Unions do not offer debit cards
What is a. Credit Unions are not-for-profit?
As of November 2024, how much has the Business Services Team originated in commercial loans? a. $12 million b. $17 million c. $20 million
What is b. $17 million?
An SCFCU member must maintain a balance of ____ in membership savings: a. $15 b. $10 c. $5
What is c. $5?
The first credit union in North America was founded in: a. Quebec, Canada b. New York City, NY c. Toronto, Ontario
What is a. Quebec, Canada?
Under which U.S. president was the Federal Credit Union Act passed? a. Herbert Hoover b. Franklin Roosevelt c. Harry Truman
Who is b. Franklin Roosevelt?
Banks use their profits to pay out stockholders. What happens to the profits made by a credit union? a. They are reinvested in the institution or paid to members b. They are paid to stockholders c. Nothing; there are no profits
What is a? They are reinvested in the institution or paid to members.
What is the fee and minimum balance for a Diamond Checking Account?
No minimum balance and No Fee!
Name the 5 counties that qualify you for membership at SCFCU....
What are Stearns, Morrison, Benton, Meeker, Sherburn, & Kandiyohi Counties?
Approximately how many members do credit unions have worldwide? a. 2.3 million b. 96 million c. 172 million d. 411 million
What is c. 411 million?
Worldwide, 74,634 credit unions in 104 countries serve 411 million people.
Where was the first credit union in the United States opened?
Where is New Hampshire?
Credit unions can save members money when they purchase a house and take out a mortgage because:
What is, lower closing costs and fees?
What are the terms of a share certificate and what is the minimum deposit?
Fixed rate terms from 3-60 months and a minimum opening deposit as low as $500.
What 2 ATM Networks is SCFCU a part of?
What is CO-OP ATM and MoneyPass?
How many different countries are credit unions located in? a. 50 b. 118 c. 201
What is b. 118?
Credit unions in the United States were established to fight against: a. the government b. loan sharks c. banks
What are b. loan sharks?
What is the primary complaint about credit unions from the banking industry?
What is Competition?
Because they are Not-For-Profit, Credit Unions can offer lower interest rates on loans and higher yields on deposit accounts.
How many types of consumer Credit Cards does SCFCU offer?
What is 3?
Current offerings include Platinum, Secured, and Rewards.
Diamond Rewards card is coming soon!
What year was SCFCU founded?
What is the year 1930?
It was started for Postal Employees.
Who is the largest Credit Union in the World (Members)? a. America's First Credit Union b. Navy Federal Credit Union c. Magnifi Financial
Who is Navy Federal Credit Union? With over 13 million members and $178b in assets.
America's First Credit Union over 1.4 million members and $20.3b in assets.
Magnifi Financial over 84,000 members and $2.3b in assets
In what country and what group of people first developed the financial organization we now know as a Credit Union?
Who are independent farmers in Germany?
The average interest rate charged on a credit card at a bank is 23.37%. What is the average interest rate charged on a credit union credit card? a. 8.9% b. 12.86% c. 18%
What is b. 12.86%?
What is the name of the business product suite launched in 2024?
What is NextLevel?