Savings/Checking
As you are speaking to a Member about the Money Market, they state that access to funds is important to them. Formulate a benefit statement that highlights this.
I would recommend opening the MM because it is a liquid account that gives you flexibility to deposit and withdrawal funds as needed without penalty.
One of the features of mobile banking is the ability to complete e-deposits. Please create and deliver a benefit statement for the e-deposit feature.
I recommend using the e-deposit feature on the mobile app. Using it will give you flexibility to make deposits as soon as you receive the check.
Using it will allow you to make deposits from anywhere.
The main feature of MRC is that it offers similar coverage to the 36 month or 36,000 miles manufacturer warranty for various terms. Create a benefit statement that would highlight this feature.
Taking advantage of the MRC ensures that your vehicle is protected with coverage similar to the manufacturers coverage for a much longer period of time or for a customized period of time depending on your ownership plans.
The Member you are assisting has been with the district 10-years as a maintenance worker. He is here funding a personal loan for $15k. His accounts are listed individually with no beneficiaries. Select a feature that would best fit this Member and create a benefit statement.
Mr. or Ms. Member I would recommend taking advantage of the disability coverage under PSP, due to the nature of your work you are at a higher risk for disability/injury than others. The disability coverage will give you the peace of mind that your payments will be made in the event an injury occurs.
While opening a Membership for a SchoolEmployee she shares some of the great comments her co workers have made about the savings rates we offer here at the CU. Based on the information provided, which product would you highlight? Please create a benefit statement around it.
Based on what you shared with me I would recommend that you take advantage of the Summer Saver account that the CU offers. This account will earn you x.x% APY which will earn you the most in interest return than an account we have.
Member has a large balance in savings 01 and wants to deposit to the account. The balance will be $45K after the deposit. You discover the Member plans on not touching the funds and access is not a concern. Mbr has investments and wants these funds in the CU account. Create a referral statement for your recommendation.
Share certificate. Based on what you are telling me, I would recommend opening a Share Certificate. The certificate will earn interest at a much higher rate, which means you will earn more interest while your funds are sitting in this account.
As you are speaking to your Member about the ability to search for nearby ATMs by the GPS location on the mobile app, you see their interest. Please form and deliver a benefit statement for this feature.
Your mobile banking app has the ability to search for ATMs by using theGPS location anywhere you are, and they are free to use.
The Platinum plan is the most comprehensive plan that is offered by MRC. Create a benefit statement for the platinum coverage.
I would recommend the platinum plan because it offers the most robust coverage in this service plan. Based on the platinum plan being a named exclusion policy it tells you what is not covered. This will give you peace of mind that if it can be covered it will be.
The Members you are assisting are booking a pre-approved credit card with a limit of $20k. The Members are married and will hold the the card jointly. The account is a Savings and Checking with minimal balances. Members are self employed. Select a feature of PSP to highlight and create a benefit statement around in.
I would recommend taking advantage of the Loss of Life coverage under our Payment Shield Protection coverage so you can have the peace of mind that if something happens to either of you the balance on this card would be paid in full… So you can have peace of mind that the surviving spouse would not have the burden of repaying the remaining balances at that time.
Our Mission Statement st SchoolsFirst Federal Credit Union
What is ”To provide our Members with World Class personal service and financial security.”
As you are speaking with your Member you learn that they are heavy debit card users with a great checking account balance. Create a benefits statement that highlights the investment checking and features that would apply to this Member.
I recommend the investment checking account because it offers dividend earning and also SWYPE rewards. These features allow you to maximize your earnings/return on the money you are saving and spending.
Two features of online ACH external account transfers are the ability to select a dollar amount to transfer and a date. Form a benefit statement for these two features.
By taking advantage of the external account access you will have the flexibility to decide how much and when deposits will will be withdrawn and deposited into your accounts.
In the process of funding a loan you uncover the Members desire to visit one National Park per quarter. Pick one feature of MRC that would benefit the Member and develop a benefit statement.
One of the additional features of the MRC is trip interruption. If the unexpected occurred during one of your quarterly trips, trip interruption would pay for food and lodging up to $500 so you can travel with the confidence that if anything happens you could be reimbursed for some or all of the additional unexpected expenses.
The Member you are assisting is 18 yrs. Old, part time employment at an auto repair facility, recently hired a month ago at 30 hours per week. At the auto repair facility, he works the reception desk. Select a feature of PSP to highlight and create a benefit statement. He is funding a $500 Mastercard CC.
Based on the information you provided me I would recommend protecting yourself and your credit by taking advantage of the unemployment feature under PSP. In the event you become unemployed PSP would make the monthly payment for you so you can focus on paying other bills or looking for new employment.
You have been working with a SE Member on a credit card application that they requested. The Member has made it clear that they do not have the best credit but they also don’t want a high interest CC. It is very clear their main goal is to get a CC with the lowest rate possible. What CC and two of its features would benefit this Member? Please create a benefit statement.
Mr or Mrs Member, I would recommend opening a SECC. This CC offers the lowest rate of all our credit cards, which ensures you are getting the lowest rate, which is your primary goal with the CC. In addition it pays back 2% on every purchase which is deposited into your savings account every month.
Scenario
things to know: Member had a savings only, it has $10K balance every month, he has DD, accesses his account through the ATM 2-3 times per week to W/D $20-$60, he is in the branch to withdraw $1700 in cash.
Response
from what you are telling me and what I can see on the account I would recommend we establish a checking/debit card with the CU. The debit card will give you the increased accessibility that you desire and make life much more convenient.
Scenario
You just completed an auto loan funding for a Member that only has a savings with us. Based on what you see it is obvious the Member only uses us for loans and does not use the account at all. The new auto loan payment is $450 per month.
Response: I would recommend using the External Transfer option through our online banking system to transfer funds from your other FI to the CU. This will give you the flexibility to select when the funds are transferred and even have a predetermined amount of transfers so when the loan is paid off, the transfers stop.
Scenario
Member is funding a 2018 Nissan Altima with 34,000 miles. Total financed amount is $15,000.
Response
Based on the information provided , I would recommend taking advantage of our Mechanical Repair Coverage. You are very close to the manufacturers warranty expiring and this coverage would ensure that Mechanical breakdowns would be covered if the unexpected occurs.
ScenarioA Member is funding a consolidation loan, individually, for $8k. He walked in wearing a backpack, gloves and a motorcycle helmet.
Mr. or Ms. Member,I would recommend the loss of life and disability portion of our PSP coverage. if you were to face a life event like disability this coverage would pay 12 months of payments while you are getting better. In the case of loss of life the loan would be paid off and your account balances would be protected.
A Member comes in toplace a stop payments on a check written toAdvance America. The checking account has $554 and the savings has $5. Recommendation statement.
based on what you are telling me, I recommend… personal, payroll savings loan, etc, so you can stop using the higher interest rate options when you the unexpected occurs.
Scenario
things to know: Member Has a savings only with an average balance of $25K. Two product referral.
Mr. or Ms. Member based on what you have shared with me I would recommend opening a MM with your account.With the tiered rate structure you would be ableto receive a higher dividend/interest earning as your balance increases.
CU is Primary FI and Member has been coming in continuously to request balance printouts and history print outs.
Response: Mr. or Ms. Member I believe setting up the mobile banking app on your smart phone would make your life easier. We can help you set up e alerts and/or easy balance view so you can see your balances daily without having to come in. We can help you get everything set up and show you how.
Scenario
Member is funding a 2020 Ford F-250 (diesel) with 20,000 miles. Total finance amount is $38,000.
Mr. or Ms. Member I would recommend taking advantage of the Mechanical Repair Coverage because it will give you piece of mind that if your truck were to break down and have repair costs.
Scenario: Member walks in to fund his auto loan for $15K.
Mr. Member I would recommend taking advantage of the loss of life protection of our PSP coverage. This protection would pay off the outstanding loan balance if you were to pass away so that your family would be able to keep the family car and not have to continue making payments on it.
While opening a Membership our Members ask multiple questions about our overdraft protection policies and fees. What product and feature would benefit this Member? Benefit statement.
I would recommend taking advantage of the OPL. If you have a situation where your checking account does not have the sufficient funds to cover an expense, we would take money from the OPL, so there is no overdraft charge.