New Account Training - September 2024 PDF

NEW ACCOUNTS TRAINING September 2024  Today’s Session Itinerary Thank you for attending  Today’s Session Itinerary 1. Kahoots is Back- Our starting Point 2. Product Knowledge 3. Fee Schedule, Chexs, and Non-US Citizens 4. Hands on Account Opening (Primary Savings, Checking,...

NEW ACCOUNTS TRAINING September 2024  Today’s Session Itinerary Thank you for attending  Today’s Session Itinerary 1. Kahoots is Back- Our starting Point 2. Product Knowledge 3. Fee Schedule, Chexs, and Non-US Citizens 4. Hands on Account Opening (Primary Savings, Checking, Minor Account, & CD) 5. Alliance Checking and “The Member Experience Overview” 6. Sticky Products Overview 7. Kahoots Champion is ?  Rules of the Day 1.Sorry No Cell Phones (Take a break from the world) 2.Need a volunteer (PLEASE) 3.Ask LOTS of Questions- This is your session.. 4.HAVE FUN   Member Eligibility  Membership requires individuals or entities to fulfill at least one specified criterion.  Eligible groups include Catholics living, working, or attending school in Michigan or the Texas dioceses of Tyler and Austin.  Employees or retirees associated with Michigan Catholic parishes or health care systems qualify for membership.  Relatives of current Alliance Catholic Credit Union members can become members.  Employees of affiliated Select Employer Groups (SEGs) are also eligible.  Students, faculty, or alumni of Catholic universities in  Primary Savings Account  Membership established with an initial $5.00 deposit, representing one "share."  This share grants voting rights and access to other membership benefits.  Minimum balance of $250 required to earn dividends on the primary savings account.  No ATM/Debit Card available for accounts holding only the primary savings.  Single Service Fee waived for members aged 18 or younger; avoidable for others by adding eligible services. Products/Services Include:  Secondary Savings with one transaction completed each month  Checking account with monthly activity or direct deposit  Money Market  Loan  Secondary Savings Account  Additional savings account for members wanting to separate funds from primary savings.  Designed for setting savings goals and designated expenses.  No minimum balance or monthly maintenance fee required.  Cannot be used for overdraft protection.  Money Market Account  Offers a balance of higher dividends and access to funds.  No minimum balance to open; dividends compounded and paid monthly.  Minimum balance of $2500 required to earn dividends.  Withdrawal limits include six pre-authorized transfers per month.  Aspire Savings Account  Intended for young adults aged 13 to 17 to build savings and manage finances.  Establishes membership with ACCU, providing flexible savings options.  ATM/Debit Card available for members aged 13+ with a Standard Checking and Aspire Savings account.  Upon turning 18, members transition to full adult membership with expanded management  Angel Savings Account  Designed for members age 12 and under, featuring no monthly maintenance fee.  Serves as a primary savings account for younger members.  Certificates of Deposit (CDs)  Savings instrument allowing members to secure interest rates for specified terms, generally offering higher dividends than regular savings accounts.  Two types of CDs available: regular share certificates and IRA certificates.  Terms available range from three months to five years, with guaranteed interest rates for the entire term.  Dividends are compounded and paid monthly.  Early withdrawal penalties apply, with different rates depending on CD maturity length.  The 13-Month Flexible CD permits one penalty-free withdrawal up to 25% of principal, with subsequent penalties assessed.  Early Withdrawal Provisions  A penalty is applied for early withdrawal before the maturity date.  For CDs with a maturity of 9 months or less, the penalty is equivalent to 90 days of interest.  For CDs with a maturity of 12 months or more (excluding the 13-Month Flexible CD), the penalty is 180 days of interest.  The 13-Month Flexible CD allows one penalty-free withdrawal of up to 25% of the principal; additional withdrawals incur a penalty of 180 days of interest.  Alliance Checking Account  Earns 4.00% APY on balances up to $15,000 with monthly qualifications: Direct Deposit, 10 signature-based “Credit” transactions, and enrollment in E-statements.  Monthly fee is 6; account available for ages 18+. Checking - Alliance Catholic Credit Union (alli  Standard Checking Account  Designed for members opting out of Alliance Checking.  Minimum amount to open is $0; age requirement is 13+; no monthly maintenance fee.  Includes courtesy pay available (18 and older), ATM/Debit card, and check writing privileges.  Online banking and bill pay options available.  Monthly statements provided.  Basic Checking Account  For members not qualifying for Alliance or Standard Checking based on ChexSystems.  Minimum to open is 0; age requirementis18+; monthly fee of $10.  No courtesy pay; daily debit transaction limit set at $300.  Offers ATM/Debit card, check writing privileges, online banking, and bill pay.  No dividends compounded; monthly statements  University Checking Account  Available for students at Detroit Mercy, Madonna, and Sienna Heights.  Requires valid student email for account verification.  Minimum to open is $0; age requirement is 18; no annual maintenance fee or inactivity fee.  Courtesy pay allows one-time refund of a courtesy pay and NSF fee.  Provides ATM/Debit card with no non-network withdrawal fees; check writing privileges included.  Online banking and bill pay available; monthly statements provided. Funds insured by the NCUA up  Important Links: Legal Services - Alliance Catholic Credit Unio n (allianceccu.com) Life Insurance - Alliance Catholic Credit Unio n (allianceccu.com) Fee Schedule - Alliance Catholic Credit Union (allianceccu.com)  Important Links: Account Opening Link on RC: Resource Center - ACCU EMA Procedures.pdf - All Documents (sharepoint.com) RATES: 08.12.2024_ACCU_Personal-and-CDs_Deposit -Rate-Sheet.pdf (allianceccu.com)  Important Links: Non-US Citizen Link alliancecatholiccu.sharepoint.com/sites/Reso urceCenter/Resource Center/Forms/AllItems. aspx?id=%2Fsites%2FResourceCenter%2FRe source Center%2FProcedures%2FNon-Citizen Lending%2FNon-Citizen Lending Procedures %2Epdf&viewid=59e9efdc-1326-45d8-94dd- abf00e3112ea&parent=%2Fsites%2FResourc eCenter%2FResource Center%2FProcedures %2FNon-Citizen Lending  ID Types for Non-US Citizen Employment (Work) Authorization Card with SS# or ITIN #. Passport plus a Home Bill with current address and name of member. (without ITIN--use 9-9’s) Mexico Consular ID Card with SS# or ITIN #. Permanent Resident Card with a SS #. **If member has a SS# or ITIN number pull Chexsystems and soft pull. Please Ask Mgr. for ITIN vs SSI ID Types for Non-US Citizen Making Recommendations: We We Promote and Provide Recomendations and Example: Making a recommendation: Alliance Checking (See Placemat)  Making a recommendation for Alliance Checking (THE MEMBER EXPERIENCE) “Mr. Jones. Thank you for talking to me today and allowing me to get to know you and your financial picture. Based on our conversation, I believe we have a perfect account here at ACCU that will fit your needs. You shared with me earlier that you typically keep an average balance in your checking account of about $15K, and savings about $12K. You also stated that the interest rate  Making a recommendation for Alliance Checking: (Continued) The account package we have for you is our Alliance Checking that earns 4% interest up to $15K, while you can earn money up to $6000 and in the meantime keep those funds liquid. This way your funds are accessible in the case of an emergency, which you stated is important to you. You also shared that you are paying $19.00 for Life Lock monthly and self-phone protection $10.00 a month per device. For only $6.00 a month, we can  Lets’ Do Some Math: Price of the following Alliance Checking: Services: Alliance Checking $6.00 LifeLock $19.00 Interest Received Basic Cell from 15k $50.00 Phone Insurance $10.00 Total you Receive: Entertainment Book $44.00 $5.00 Total NET Difference Just for Three of the per month: Benefits you Pay: $78.00 ($34.00)  Products Per Household PPH (Products Per Household) Share (Any type) Loan MasterCard Debit Card Mortgage Loan E-Statement Online Banking Direct Deposit  Products Per Household Recurring Payments and Direct Deposits One of the best ways to make a product sticky is to have a recurring charge from the customer. (Gyms, Streaming Services, Cell Phone) Discounts and Incentives Another way to make products sticky is to offer discounts to your existing customers. (Credit Card Points) Relationships The final way to make your business sticky with your customers is Who is our Kahoot’s Champion, it is time for bragging rights!!! Questions – ??? Thank You!