Podcast
Questions and Answers
What is the purpose of a Currency Transaction Report (CTR)?
What is the purpose of a Currency Transaction Report (CTR)?
- To track transactions involving currency of over $10,000 (correct)
- To report transactions involving over $5,000 in currency
- To confirm the withdrawal requests of account holders
- To monitor deposits without any limits
Which tool is used to manage account relationships and track referrals?
Which tool is used to manage account relationships and track referrals?
- Account Revision Tool
- Account Relationship Tool (correct)
- Account Convert Tool
- Springboard Tool
What is the purpose of the Direct Deposit service?
What is the purpose of the Direct Deposit service?
- To facilitate automated electronic transfers into members' accounts (correct)
- To manage manual deposits made by employees
- To initiate automatic withdrawals from members' accounts
- To allow members to deposit checks electronically
What does the Springboard system facilitate?
What does the Springboard system facilitate?
What type of training does KNOW BE4 provide to ACCU employees?
What type of training does KNOW BE4 provide to ACCU employees?
Alliance Catholic Credit Union uses the following third-party service providers for our members, except:
Alliance Catholic Credit Union uses the following third-party service providers for our members, except:
What is the penalty for early withdrawal from a Certificate of Deposit with a maturity of 12 months or more?
What is the penalty for early withdrawal from a Certificate of Deposit with a maturity of 12 months or more?
Which checking account earns the highest interest rate and has specific monthly qualifications?
Which checking account earns the highest interest rate and has specific monthly qualifications?
What is a key feature of the Aspire Savings Account?
What is a key feature of the Aspire Savings Account?
What is an important feature of the Money Market Account?
What is an important feature of the Money Market Account?
What age restrictions apply to the Alliance Checking Account?
What age restrictions apply to the Alliance Checking Account?
What happens to funds saved in the Christmas Club account?
What happens to funds saved in the Christmas Club account?
What distinguishes the Basic Checking Account from other checking accounts?
What distinguishes the Basic Checking Account from other checking accounts?
What is the primary purpose of a Suspicious Activity Report (SAR)?
What is the primary purpose of a Suspicious Activity Report (SAR)?
What is the required time frame for filing a SAR after detecting suspicious activity?
What is the required time frame for filing a SAR after detecting suspicious activity?
What is a feature of Cashier's Checks?
What is a feature of Cashier's Checks?
Which of the following statements is true about Cash Advances?
Which of the following statements is true about Cash Advances?
What is the expiration period for a Cashier's Check?
What is the expiration period for a Cashier's Check?
What characteristic is NOT associated with the Cashier's Checks provided by ACCU?
What characteristic is NOT associated with the Cashier's Checks provided by ACCU?
Under what circumstance can a stop payment on a Cashier's Check be permitted?
Under what circumstance can a stop payment on a Cashier's Check be permitted?
What is the service fee for Cash Advances at ACCU?
What is the service fee for Cash Advances at ACCU?
What is the title given to the person who has complete control over a General Membership account?
What is the title given to the person who has complete control over a General Membership account?
Which of the following should NOT be asked for member verification?
Which of the following should NOT be asked for member verification?
What type of identification may a non-citizen have that is primarily used for tax reporting?
What type of identification may a non-citizen have that is primarily used for tax reporting?
When is documentation of a physical address required from a member?
When is documentation of a physical address required from a member?
Which statement is accurate regarding the addition of beneficiaries to an account?
Which statement is accurate regarding the addition of beneficiaries to an account?
What must be provided to request a name change on an account?
What must be provided to request a name change on an account?
What is the fee for automatic transferring of funds from a Primary Savings account for overdraft protection?
What is the fee for automatic transferring of funds from a Primary Savings account for overdraft protection?
Which account is typically used first for overdraft protection transfers?
Which account is typically used first for overdraft protection transfers?
What must be verified in person for member verification?
What must be verified in person for member verification?
Which of the following is NOT a valid form of ID for member verification?
Which of the following is NOT a valid form of ID for member verification?
How many verification questions must be asked for over-the-phone member verification?
How many verification questions must be asked for over-the-phone member verification?
What is required for a youth member without a State ID during in-person verification?
What is required for a youth member without a State ID during in-person verification?
What is a primary unacceptable form of identification when verifying a person's ID?
What is a primary unacceptable form of identification when verifying a person's ID?
Which of the following is a key technique for detecting fraud when verifying identification?
Which of the following is a key technique for detecting fraud when verifying identification?
Which evidence is prime for rejecting an identification during transactions?
Which evidence is prime for rejecting an identification during transactions?
When verifying ID, which of the following is NOT a technique recommended for ensuring validity?
When verifying ID, which of the following is NOT a technique recommended for ensuring validity?
What is required on a check endorsed by a Power of Attorney (POA)?
What is required on a check endorsed by a Power of Attorney (POA)?
When verifying signatures on a check, what should you compare the member's signature on the check to?
When verifying signatures on a check, what should you compare the member's signature on the check to?
What constitutes good standing for a member cashing a transit check?
What constitutes good standing for a member cashing a transit check?
What happens to a Power of Attorney (POA) authority upon the death of the principal?
What happens to a Power of Attorney (POA) authority upon the death of the principal?
What is the main feature that is often disputed in checks according to verification guideline?
What is the main feature that is often disputed in checks according to verification guideline?
What does 'stale-dated' mean in relation to checks?
What does 'stale-dated' mean in relation to checks?
What happens if the numerical and written amounts on a check differ?
What happens if the numerical and written amounts on a check differ?
Which of the following statements is true regarding checks made payable to 'Cash'?
Which of the following statements is true regarding checks made payable to 'Cash'?
What is indicated by the MICR line on a check?
What is indicated by the MICR line on a check?
When are normal presentment times for checks generally set to expire?
When are normal presentment times for checks generally set to expire?
If a check is post-dated, what does it mean?
If a check is post-dated, what does it mean?
The Angel Savings Account is intended for members aged 13 to 17.
The Angel Savings Account is intended for members aged 13 to 17.
Which of the following accounts earns 4.00% APY on balances up to $15,000?
Which of the following accounts earns 4.00% APY on balances up to $15,000?
Credit Union/Bank robberies commonly take place between 9:00 AM and 11:00 AM on Fridays.
Credit Union/Bank robberies commonly take place between 9:00 AM and 11:00 AM on Fridays.
Our mission statement is simple, to provide ____ financial services, inspired by Catholic values and traditions, to enhance the financial well-being of our Catholic communities and the neighbors we serve.
Our mission statement is simple, to provide ____ financial services, inspired by Catholic values and traditions, to enhance the financial well-being of our Catholic communities and the neighbors we serve.
The transaction code 'VO' stands for Vault Overage.
The transaction code 'VO' stands for Vault Overage.
'KR' stands for "Check Received"
'KR' stands for "Check Received"
What does the Transaction Code "X" Mean?
What does the Transaction Code "X" Mean?
What does the transaction code 'SD' represent?
What does the transaction code 'SD' represent?
The transaction code 'KD' refers to cash deposit
The transaction code 'KD' refers to cash deposit
$100 Note (Issued 2013): Features 3-D Security Ribbon and Color-Shifting Bell in the Inkwell and has the portrait image of whom?
$100 Note (Issued 2013): Features 3-D Security Ribbon and Color-Shifting Bell in the Inkwell and has the portrait image of whom?
$20 Note has the portrait image of whom?
$20 Note has the portrait image of whom?
What should happen to the ink in the lower right corner when you tilt a current $100 note?
What should happen to the ink in the lower right corner when you tilt a current $100 note?
How should the watermark on a $20 note appear when held to light?
How should the watermark on a $20 note appear when held to light?
Which of the following is NOT a benefit of the Alliance Checking Account?
Which of the following is NOT a benefit of the Alliance Checking Account?
Which statement about the 13-Month Flexible CD is correct?
Which statement about the 13-Month Flexible CD is correct?
If the member elects to have E-Statements, there will be a $3.00 fee.
If the member elects to have E-Statements, there will be a $3.00 fee.
University Checking Accounts are only available for students at Detroit Mercy, Madonna, and Sienna Heights.
University Checking Accounts are only available for students at Detroit Mercy, Madonna, and Sienna Heights.
Flashcards
Currency Transaction Report (CTR) Purpose
Currency Transaction Report (CTR) Purpose
Tracks currency transactions over $10,000.
Members Home and Auto Service
Members Home and Auto Service
Provides home and auto insurance.
Account Relationship Tool Purpose
Account Relationship Tool Purpose
Manages account relationships and referrals.
Catholic Financial Life Service
Catholic Financial Life Service
Signup and view all the flashcards
Direct Deposit Service
Direct Deposit Service
Signup and view all the flashcards
Alliance Checking Access Platform
Alliance Checking Access Platform
Signup and view all the flashcards
Springboard System Function
Springboard System Function
Signup and view all the flashcards
TruStage Service
TruStage Service
Signup and view all the flashcards
KNOW BE4 Training
KNOW BE4 Training
Signup and view all the flashcards
Credit Union Travel Service
Credit Union Travel Service
Signup and view all the flashcards
Early Withdrawal Penalty (CD)
Early Withdrawal Penalty (CD)
Signup and view all the flashcards
Highest Interest Checking Account
Highest Interest Checking Account
Signup and view all the flashcards
Aspire Savings Account Feature
Aspire Savings Account Feature
Signup and view all the flashcards
Money Market Account Feature
Money Market Account Feature
Signup and view all the flashcards
Alliance Checking Account Age Restriction
Alliance Checking Account Age Restriction
Signup and view all the flashcards
Christmas Club Account Funds Transfer
Christmas Club Account Funds Transfer
Signup and view all the flashcards
Secondary Savings Account Feature
Secondary Savings Account Feature
Signup and view all the flashcards
Maintenance Fee Waiver (18 or younger)
Maintenance Fee Waiver (18 or younger)
Signup and view all the flashcards
University Checking Account Feature
University Checking Account Feature
Signup and view all the flashcards
Basic Checking Account Distinguishing Feature
Basic Checking Account Distinguishing Feature
Signup and view all the flashcards
Suspicious Activity Report (SAR) Purpose
Suspicious Activity Report (SAR) Purpose
Signup and view all the flashcards
SAR Filing Timeframe
SAR Filing Timeframe
Signup and view all the flashcards
Cashier's Checks Feature
Cashier's Checks Feature
Signup and view all the flashcards
Cash Advances Restriction
Cash Advances Restriction
Signup and view all the flashcards
Cashier's Check Expiration
Cashier's Check Expiration
Signup and view all the flashcards
Member Suspicion of Criminal Activity Actions
Member Suspicion of Criminal Activity Actions
Signup and view all the flashcards
Primary Member
Primary Member
Signup and view all the flashcards
Joint Account Holder
Joint Account Holder
Signup and view all the flashcards
What should NOT be asked for member verification?
What should NOT be asked for member verification?
Signup and view all the flashcards
Individual Tax Identification Number (ITIN)
Individual Tax Identification Number (ITIN)
Signup and view all the flashcards
When is physical address documentation needed?
When is physical address documentation needed?
Signup and view all the flashcards
Who can add beneficiaries?
Who can add beneficiaries?
Signup and view all the flashcards
What is required for a name change?
What is required for a name change?
Signup and view all the flashcards
Overdraft Protection Transfer Fee
Overdraft Protection Transfer Fee
Signup and view all the flashcards
First account used for overdraft protection
First account used for overdraft protection
Signup and view all the flashcards
Member Verification in Person: What must be verified?
Member Verification in Person: What must be verified?
Signup and view all the flashcards
Invalid form of ID
Invalid form of ID
Signup and view all the flashcards
Over-the-phone verification questions
Over-the-phone verification questions
Signup and view all the flashcards
Youth member verification without State ID
Youth member verification without State ID
Signup and view all the flashcards
Unacceptable primary ID
Unacceptable primary ID
Signup and view all the flashcards
Fraud detection technique
Fraud detection technique
Signup and view all the flashcards
Rejection of identification
Rejection of identification
Signup and view all the flashcards
ID verification: NOT recommended
ID verification: NOT recommended
Signup and view all the flashcards
Power of Attorney (POA) check endorsement
Power of Attorney (POA) check endorsement
Signup and view all the flashcards
Signature comparison on checks
Signature comparison on checks
Signup and view all the flashcards
Check cashing good standing
Check cashing good standing
Signup and view all the flashcards
Power of Attorney (POA) authority after principal's death
Power of Attorney (POA) authority after principal's death
Signup and view all the flashcards
POA check verification
POA check verification
Signup and view all the flashcards
Common disputed check feature
Common disputed check feature
Signup and view all the flashcards
Negotiable instrument payment
Negotiable instrument payment
Signup and view all the flashcards
Stale-dated check
Stale-dated check
Signup and view all the flashcards
Check: Discrepancy between written and numerical amounts
Check: Discrepancy between written and numerical amounts
Signup and view all the flashcards
Checks payable to 'Cash'
Checks payable to 'Cash'
Signup and view all the flashcards
MICR line on a check
MICR line on a check
Signup and view all the flashcards
Normal presentment times for checks
Normal presentment times for checks
Signup and view all the flashcards
Post-dated check
Post-dated check
Signup and view all the flashcards
Study Notes
General Membership Account Control
- Primary Member (C) is the account owner with complete control.
Member Verification - Do Not Ask
- Date of birth (C) should not be used for verification.
Non-Citizen Tax Identification
- Individual Tax Identification Number (ITIN) (A) is primarily used for tax reporting.
Physical Address Requirement
- A physical address is required when the Primary ID does not have one (C).
Beneficiary Addition
- Only the primary member can add beneficiaries (D).
Name Change Request
- Documentation like marriage certificates or divorce decrees (A) is needed.
Primary Savings Account Transfer Fee
- A $5 fee (A) is charged for transferring funds for overdraft protection.
Overdraft Protection Account
- Overdraft Line of Credit (C) is typically used first.
Member Verification In Person
- A valid state ID (A) is required for in-person verification.
Invalid Member Verification ID
- A utility bill (A) is not a valid form of ID.
Over-the-Phone Verification Questions
- At least 3 verification questions (B) are required.
Youth Member Verification
- A valid birth certificate (D) is required for youth members without a state ID.
Unacceptable Primary Identification
- A social security card (D) is an unacceptable form of primary identification.
Fraud Detection Technique
- Verifying the ID photo matches the person (D) is crucial for fraud detection.
Transaction Rejection Evidence
- Bank statements with matching names (A) are prime evidence for rejecting identification.
Check Endorsement by POA
- The principal's name must be printed, and the POA's signature must be present (A).
Check Signature Verification
- Previous signatures (D) are compared to the member's signature on the check.
Good Standing for Transit Check Cashing
- The member must not have current overdrafts beyond the Courtesy Pay limit. (B)
Power of Attorney Authority After Death
- POA authority ends immediately upon the principal's death (A).
Check Dispute Feature
- Handwriting of signatures (A) is the most common disputed feature.
Stale-Dated Check
- A check written for a date in the past (A).
Numerical and Written Amount Difference
- The written amount (D) is considered legal if different from the numerical amount.
Checks Made Payable to "Cash"
- Checks payable to "Cash" (C) can be negotiated by anyone.
MICR Line on Check
- The MICR line indicates the account number and routing information (A).
Check Expiration
- 6 months from the issue date (B) is the standard check expiration.
Post-Dated Check
- Non-negotiable until the future date indicated on the check.
Angel Savings Account
- Intended for members aged 13 to 17.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Related Documents
Description
Explore various types of savings products offered by financial institutions, including specifically designed accounts for different age groups. Learn about features of Angel and Aspire savings accounts, as well as options like certificates of deposit and money market accounts.
