ࡱ> ?A>` Wbjbj 5BWd<-HHHHHHHH$hKVHHHHHHHH HHHH< {%1R 0-\"$HHH~ HHH-HHHH   APR 2005 1 A consumer loan is made to purchase material goods and services (i.e. cars, boats, vacations, etc.) Relates to: CONSUMER LOANS True False 2 What are some of the benefits of a Consolidation Loan? Relates to: LOAN CONSOLIDATION Convenient to pay because of consolidating multiple payments into one payment Saves money by possibly reducing the interest rate and/or monthly payment amount The available Credit Life and Credit Disability insurance provides peace of mind All of the above are benefits of a Consolidation Loan 3 Credit Disability Insurance pays off the loan in the event of the member's death Relates to: CREDIT LIFE AND CREDIT DISABILITY INSURANCE True False 4 The Credit Union's loan rates should be quoted as follows: 'Our rate is as low as ____ APR, with approved credit.' Relates to: CONSUMER LOANS True False 5 Credit Disability is designed to make the member's loan payments in the event of a covered sickness or accident. Relates to: CREDIT LIFE AND CREDIT DISABILITY INSURANCE True False 6 Credit Life and/or Credit Disability Insurance are mandatory and are required to be approved for a loan. Relates to: CREDIT LIFE AND CREDIT DISABILITY INSURANCE True False Wednesday, July 27, 2005 Page 1 of 4 7 Members can apply for a loan in the following ways: Relates to: CONSUMER LOANS Bartlesville Offices (Downtown and Stonegate) Houston Office Springdale and Lawrence Offices Call the Credit Union during regular business hours Through our Credit Union web sites All of the Above 8 Consumer loans at the Credit Union are simple interest loans with no pre- Relates to: CONSUMER LOANS True False 9 Lien releases are immediately available to members who pay off loans with cash or cashiers check. Relates to: CONSUMER LOANS True False 10 What are some benefits of Credit Life and Credit Disability Insurance? Relates to: CREDIT LIFE AND CREDIT DISABILITY INSURANCE Peace of mind knowing that you will not be burdened with loan payments during a stressful time Convenient and simple to enroll Both of the above are benefits 11 All of the following are benefits of Mechanical Repair Coverage (MRC) except: Relates to: Warranties Rental car and towing reimbursement Three (3) levels of coverage to choose from to meet a member's particular needs Each MRC comes with a free giveaway item at sign up Eliminates high cost of future mechanical repairs 12 How are consumer loan payments made by members? Relates to: CONSUMER LOANS In equal monthly, semi-monthly or one lump sum payment of interest and principal Every other month Every six months Both A & B Wednesday, July 27, 2005 Page 2 of 4 13 What are some benefits of a consumer loan at our Credit Union? Relates to: CONSUMER LOANS Saves the member money because of the low interest rates Various repayment options make it convenient for the member Internet application and information saves members time All of the above 14 What is a Line of Credit Loan? Relates to: LINE OF CREDIT An unsecured loan (generally) A simple interest loan Has a variable interest rate All of the above 15 Members with loans at other financial institutions can refinance those loans with our Credit Union if they meet lending guidelines. Relates to: CONSUMER LOANS True False 16 What are some of the ways a Line of Credit Loan can be accessed? Relates to: LINE OF CREDIT In person Transfer by Touch Tone Teller Calling the Credit Union during regular business hours All of the above 17 The cost of Mechanical Repair Coverage can be included in the financing of Relates to: Warranties True False 18 One of the best reasons for a member to have a Line of Credit Loan is: Relates to: LINE OF CREDIT Gives the member prestige among his/her peers Offers overdraft protection to the share draft (checking) account Gives the employee a better sales/referral ratio Wednesday, July 27, 2005 Page 3 of 4 19 The primary account statement reports the status of all loans as of the last day of Relates to: CONSUMER LOANS True False 20 The amount of money available to a member on their Line of Credit Loan is: Relates to: LINE OF CREDIT $100 minimum at a time $500 increments only The predetermined line of credit limit less any funds already borrowed against the line of credit The balance on their statement as of the last day of the month Wednesday, July 27, 2005 Page 4 of 4      YZ[rstn\J\J\#h]B*CJOJQJ^JaJph#h]B*CJOJQJ^JaJph/h]56B* CJOJQJ\]^JaJph#h]B*CJOJQJ^JaJph#h]B*CJOJQJ^JaJph#h]B*CJOJQJ^JaJph/h]56B* CJOJQJ\]^JaJph#h]56B* CJ0\]aJ0ph#h]56B* CJ(\]aJ(phh]OJQJ ZsE u ~ x1$7$8$H$ 51$7$8$H$ xW1$7$8$H$ +1$7$8$H$ 1$7$8$H$ R1$7$8$H$ 1$7$8$H$ xY1$7$8$H$ Z<1$7$8$H$WD E F  ! 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