Lending
Does your vehicle have to be financed with us to get MRC?
No, they can pay for MRC via cash and their vehicle does NOT have to be financed through us.
How many days delinquent on a loan does a member need to be for us to call solutions?
45 days delinquent.
What is the amount threshold for for REG CC Exception hold?
$6725.00
How much is the opening deposit for a business checking account?
$100.00
what is the loan special right now?
Debt consolidation loan
What's something exclusive to SWLACU with our GAP product?
. One of the features of our gap is that we have deductible assistance that will cover up to 2 deductibles per year, up to $1000 after insurance has been filed.
If a member is in bankruptcy, and they want to make a withdrawal, do you need to contact solutions?
Yes for all transaction, any bankruptcy we must contact solutions.
How much is released, or made available next day with REG CC?
$275.00
How much is the opening deposit for a business savings account?
$25.00
What is the MAX term for the loan special?
60 months or 5 years
What is the cut of age for credit life/disability Insurance?
70 years of age
When do letters/notices get automatically generated in portico?
15 days
How much do we release by the 2nd business day with REG CC?
$6450 (2nd business day) totaling $6725.00
Can Business accounts have more than 1 debit card per SSN per Membership?
Yes, an authorized user can have more than one debit card for the same membership on different checking accounts.
What is the MAX amount a member can get with our loan special?
$20,000.00 is a good baseline.
Can credit life or disability be added later, on the loan?
Usually, we redo the loan to add life or cdi coverage. If they choose to just add it, then they will need to answer health questions.
What does a "blue bubble" indicate next to the lending product?
That is a "promise" to pay a certain amount on a specific day after coming to an agreement on a payment plan with solutions.
Do we accept checks made payable to CASH?
No! The check must be payable to someone. Cash is not a person.
Can our business members use Repay to pay on their business loans with us?
Yes we can, even if it is not on our books.
Can a student loan be included in a debt consolidation loan?
Yes it can, but it typically does not benefit the member. students loan already have a very low interest rate and are forgiveness friendly and we are not.
If a member becomes 90+ Days delinquent on a loan, member loses the Insurance. How does the member get the Insurance back? Do they have to come in and sign again?
Once the loan becomes current, the loan should be covered again once the premium is posted. You can view on the loan when the premium posts (at the end of every month)
If a members courtesy pay is revoked due to delinquent loan, once they become current on the loan will CP be available again?
Yes , once they get current on their loans the CP will become available again.
What is the time frame for stale dated checks?
180 days -6 months.
What is the credit limit for a business visa credit card?
$50,000.00 in house limit.
Can a member do a cash withdrawal on a debt consolidation loan?
Yes they can but the member will not get the "special rate"