PRODUCT KNOWLEDGE SAMPLE. Sample. Credit Union Name. Developed By:

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1 MEMBER NEEDS HANDBOOK Credit Union Name Developed By: The Pell Group & Creating Member Loyalty Copyright 2014 Credit Union National Association, Inc.

2 1 Introduction Introduction Facts About Credit Union Name Expected Selling Behaviors 2 Membership Membership Profile PRODUCT KNOWLEDGE

3 3 Resources Credit Union Employee's Newsletter Membership Newsletter 4 Savings Holiday Account Individual Retirement Account (IRA) Money Market Account 5 Checking Money Market Checking Checking Account PRODUCT KNOWLEDGE

4 6 Certificates Certificate of Deposit Jumbo Certificate 7 Business Business Business Checking Account Business Money Market Checking Business Certificate of Deposit Business Loan Business Online Banking Business Credit Card PRODUCT KNOWLEDGE 8 Health (HSA) Health 9 Plastic Cards VISA/Mastercard Debit Card/Point of Sale 10 Secured Loans Secured Loan Share/Certificate Loan 11 Unsecured Loans Line of Credit Signature Loan

5 12 Real Estate Loans Adjustable Rate Mortgage (ARM) Loan Conventional Home Loan Deed of Trust FHA and VA Home Loans Home Improvement Loan Home Equity Line of Credit Home Equity Loan 13 Electronic Services 24-Hour Phone Access Automated Teller Machine (ATM) Online Bill Payment Online Banking Mobile Banking E-Statement Remote Deposit Capture 14 Insurance Services PRODUCT KNOWLEDGE Credit Disability Insurance Credit Life Insurance NCUA Insurance Vehicle Insurance Homeowners Insurance Mechanical Repair Coverage Guaranteed Asset Protection (GAP) Whole Life Insurance Term Life Insurance Accidental Death and Dismemberment Insurance Payment Security Protection

6 15 Membership Convenience Services Account Research Automatic Transfer Auto Buying Service Commercial Money Order Credit Union Check Direct Deposit Discount Tax Service Electronic Funds Transfer Money Order Notary Public Service Payroll Deduction Safe Deposit Box Traveler s Checks Senior s Club Wire Transfer 16 Investment Services Government Income Fund Mutual Funds Tax Deferred Annuity Tax Exempt Income Fund Tax Exempt Securities

7 What it is... PRODUCT PROFILE An insured dividend paying account that may be opened with a minimum amount. Members may make deposits and withdrawals from this type of account. What it does... Allows the member to earn dividends, while permitting immediate access to funds. Provides Overdraft Protection for Checking accounts. Who's eligible... Members within the Field of Membership. Presentation helpers... [INSERT NAME(S) OF APPROPRIATE BROCHURE, RATE SHEET, FLYER, ETC.] Experts... [INSERT JOB TITLE OR DEPARTMENT, e.g., NEW ACCOUNTS, LOAN OFFICER, ETC.] Cross-Selling opportunities... [ATM] [Tax Deferred Annuity] [Payroll Deduction] [Money Market Account] [Share/Certificate Loan] [Online] [VISA] [Jumbo Certificate] [Checking Account] [Certificate of Deposit] [Tax Exempt Securities] [Individual Retirement Account]

8 Prospect Profile: All family members Wage earners Students Credit card applicants Loan applicants Minors Seniors Potential Needs A safe and efficient way to accumulate funds TARGET MEMBERS Needs Identification Questions What financial plans have you made for your retirement? Immediate access to funds What types of needs do you have as far as accessing your funds? Automatic deduction from checking account for forced savings Liquid savings for: - Emergencies - Education - Vacations What types of savings plans do you currently participate in? What financial plans have you made -in case of an emergency? For educational purposes? For vacation?

9 Product Features Federally insured up to $250,000 by the NCUA FEATURES & BENEFITS Member Benefits No risk Pays dividends Earns money Minimum opening deposit - $[##.##] Affordable Periodic statement Easy to understand Maximum of six (6) transfers and withdrawals from member s account to another account of theirs or to a third party in any month by means of a preauthorized, automatic or Internet transfer, by telephonic order or instruction, or by check, draft, debit card or similar order. Encourages saving

10 Questions/Objections QUESTIONS & OBJECTIONS Possible Response I don't have a lot of money. A can be opened for as little as $[##.##]. I have a savings account with XYZ Bank. Why should I move here? Do you charge for your Savings Account? Have you considered the convenience of having your savings account here where you conduct other financial business? As a member you would be eligible to participate in many other time and money saving services. There are no charges to you.

11 Potential Needs Dividends on checking account Ability to buy without cash CROSS-SELLING A member who opens a is likely to have a need for one or more of these: Needs Identification Questions How much do you currently earn on your checking account? How would you like to able to purchase things without withdrawing from your savings? Convenience Your employer provides you with the ease and convenience of Payroll Deduction to have savings deposits made to your. Would that be convenient for you? Immediate access to cash; convenient use of funds Would you like to be able to get cash 24-hours a day from your Savings Account? Save on taxes What types of plans do you have for saving taxes on your dividend earnings? Product/Service Checking Account VISA Payroll Deduction ATM IRA, Tax Deferred Annuity, Tax Exempt Securities

12 Potential Needs Maximize return on savings Save time Avoid late charges CROSS-SELLING A member who opens a is likely to have a need for one or more of these: Needs Identification Questions What interest rate are you currently earning on your money? Many of our members like the convenience of verifying the balances in their accounts or making transfers from one account to another at times other than our normal business hours. Would you find that service valuable? Cash for any purpose Are you aware that you can borrow money from us and not have to cash in your certificate before maturity? Membership benefits for other family members Now that you are a member of Credit Union Name an added advantage is that your family members are eligible for membership too. Who else might be interested in Credit Union Name membership? Product/Service Certificate of Deposit, Jumbo Certificate, Money Market Account 24-Hour Account Access Savings/Certificate Loan