Product Details

The Savings Club account is a FREE account that provides clients the opportunity to place funds into an account where their money is held for a specific saving purpose (for example: taxes, vacation, holiday gifts, birthdays). The funds are automatically distributed either through an automatic transfer or a mailed check.

Clients can select the distribution date from the following 4 options:

• Winter (first business day in February)
• Spring (first business day in May)
• Summer (first business day in August)
• Fall (first business day in November)

Note: The client must have a personal CCB checking account to be eligible to open a Savings Club account.

Opening New Savings Club Accounts

Keep in mind the following:

• Do not open an account or accept an application if you cannot form a reasonable belief that you know the true identity of the person seeking to open an account.
• Savings Club accounts cannot have convenience signers.
• Clients opening Savings Club accounts must have a personal checking account with CCB. 

To open the account, do the following: 

1. If the client is new to CCB, meet him or her face to face.
2. Talk with the client to determine his/her habits, needs, and expectations.
3. Place the Personal Account/Cross Sell Information sheet facing client. Ask the client to complete the bottom portion of the sheet, then assist the client in selecting the account that best meets his/her needs. (For more information see New Account Qualifying Questions.) 
4. Explain the account benefits including minimum balance requirements and additional services available (Bounce Protection, Online Banking services, Mobile Banking, Zelle, and Bank Direct services). 
   1. For product types, features and benefits details, see the Product Knowledge Center.
   2. Cross sell additional products and services to meet the client's needs using the Personal Account/Cross Sell Information sheet.
5. Discuss office locations, business hours, Instant Issue locations, ITM Locations, and CCB history. 
6. Depending on the kind of client, do the following:
   • New clients --  obtain one primary and one secondary or two primary forms of identification from all owners and signers. Note: All primary identification must be valid (not expired) and contain a photograph.
   • Existing clients -- request one form of primary identification. In addition, you can request the Inquiry Identification Code (IIC) from the client. 
7. Carefully examine the identification for the expiration date, client’s date of birth, photograph, and signature of the client. Note: If the personal identification documentation is not provided, do not open the account. See Detecting Red Flags in ID Verification.

8. Query for existing personal CIF

   1. In Xperience, click SilverLake >  CIF Menu > CIF Inquiry.
   2. Search by client TIN. 
   3. If you do not find an existing CIF, navigate to Building a Personal CIF.
   4. For each CIF found, click the client name or CIF. 
   5. View accounts for Charged Off in the Remarks section. If the client has a charged off account, see Reopening Charged Off Accounts. 
   6. Query the existing account and relationship CIF(s), and ensure the following information is up-to-date:  
      • Inquiry Identification Code -- required
      • Mailing address
      • IRS address
      • Phone number(s)
      • Email address
      • Primary and secondary identification information (for example: number, issue date, expiration date)
9. In Xperience > SilverLake >  StreamLine Platform Menu > Create New Accounts.
10. In Xperience > SilverLake >  StreamLine Platform Menu > Create New Accounts. 
11. On the Inquiry/Website Selection page, determine if a ChexSystems inquiry is required.
12. If an inquiry is required, check Inquire using ChexSystems.
13. Click OK. 
    • Note: Verafin automatically launches in a new web page. If both ChexSystems and VERAFIN are selected, you must minimize the Verafin screen and complete ChexSystems first. If you receive an approval from ChexSystems, continue to Verafin.

14. Complete a Due Diligence questionnaire using Verafin. For more on Verafin click here.

15. Once the StreamLine New Account Entry page displays, do the following:

    1. In the Branch field, enter the branch number. 
    2. From the Application drop-down menu, choose X - Club Account.
    3. In the Platform Type field press F4 to select the distribution month option then click OK.
       
    4. In the Account Number field press F4 to populate an account number and then click OK.
    5. Enter the client's name (LAST name FIRST name), CIF # or TIN and click OK.
    6. Xperience displays the following message: Existing customer found. Click to Select. Click Select.
    7. Review the CIF information and update accordingly.
16. Delete the client name in the Short name, CIF or TIN number field.
17. Click OK.
18. On Deposits Master screen click to add an Account Officer Code if required.
19. Click OK.

20. Is This A New Account?

    1. Click .
    2. Select Y Yes.

21. Line 20 Class Code 

    1. Click .
    2. Click Next Records.
    3. Choose I INDIVIDUAL or J JOINT/MULTI-PTY
    4. Click Select.

22. Line 30 Initial Deposit Amount

    Enter the amount the client will deposit. Note: The initial deposit must be either $10 in cash or in approved checks.

    This information prints on the signature card.

23. Line 45 Primary CIF Inquiry Code

    Enter this code when building the CIF. If the field is blank, ask the client to choose an Inquiry ID Code. The Inquiry Code is a code up to 15 alphanumeric characters. It cannot be the client's SSN, TIN, date of birth, or mother's maiden name. 

24. Line 160 Marketing Code

    1. Click .
    2. Select an appropriate code (for example: BB Billboard; CA Consumer Deposit Acquisition, RF Referral, Friend, Family; FB Facebook).

25. Line 990 Source of Funds

    1. Click .
    2. Choose G1 Existing Client - Existing $    
    3. Click Select.
26. Click OK.
27. Xperience displays the following message: All Fields have been Verified; Click OK to Continue.  
28. Click OK.

29. Line 10 Rights at Death (FL) / 

    Revocable Trust or Pay on Death (GA)

    1. In Georgia, Leave this field blank.
    2. Florida and Alabama only, click to make your selection.

     
30. Click OK. 
31. Xperience displays the following message: All Fields have been Verified; Click OK to Continue. 
32. Click OK.

33. Line 70 and Line 80 

    If the client will be making deposit contributions from a non-CCB account, then do the following:

    1. In the Line 70 field, enter the amount the client agrees to pay.
    2. In the Line 80 field, enter the time frame for deposit contributions.

34. Line 90

    In this field, enter SAVINGS.

35. Line 100 and 110

    If the client will be making deposit contributions from a CCB account:

    1. In the Line 100 field, enter the CCB account number for authorized debits to the Savings Club account.
    2. In the Line 110 field, enter the amount the client would like debited.

36. Line 130

    Enter SAVINGS in this field.

37. Line 160

    Type one of the following in this field:

    • If the client would like a check mailed to them on the distribution month selected, type Y. Go to step 39.
    • If the client would like the distribution deposited into a CCB account, type N and continue.

38. Line 180

    If the client would like his/her distribution deposited into a CCB account, then enter the account number in this field.

39. Line 190

    Enter D for CHECKING or S for SAVINGS in this field, depending on the account number information entered in Line 180.

40. Line 210

    The client must have a personal CCB checking account to be eligible to open a Savings Club account.

    Type Y in this field.

41. Click OK. 
42. Xperience displays the following message: All Fields have been Verified; Click OK to Continue.
43. Click OK.
44. On the Optional Record Items screen, select all that apply:
    • AFT records
    • Messages
45. On the StreamLine New Account Entry screen, from the drop-down menu set selections as follows: 
    • View/Print/Email Documents?  Y - Yes
    • Upload Account? Y - Yes
    • Another Account for These customers?
      • Select N - No and click OK if there are no more accounts to be opened for the client at this time.
      • Select Y - Yes if the client wishes to open another account (i.e. Savings)
46. Click OK. 
47. For Print Selection Items, from the Submit to eSign drop-down menu, select B - Both eSign and Print.
48. Click OK. A new web page opens for eSign. See eSign for more information.
49. Verify the information under the Backup Withholding Certifications section. 
50. Certify the TIN of the primary owner.
51. Discuss and promote the ABS system. If the client is not signed up for this service and wants to be, see Manually Enrolling Clients in the Automated Banking System.
52. If the client registered for Online Banking, advise the client that he/she will be required to accept the Online Banking Terms and Conditions when first logging in to Online Banking.
53. Give the client the Welcome packet and all required disclosures and brochures. Review the materials with the client.
54. Give a copy of the signature card to the client.
55. If the account is interest-bearing, give the client the Truth-in-Savings Disclosure and Truth-In-Savings Addendum and review them. 
56. Ensure all documents are signed.
57. Verify all documents. 
58. If all documents have been signed by using an eSign upload account, submit them using eSign. Any documents not submitted through eSign place with the daily work for imaging following the Document Imaging procedures.  
59. Accept the opening deposit from the client, which must be either $10 in cash or $10 in approved checks. In the case of check(s), place a new account hold. 
60. Complete the appropriate credit memo ticket:
    • Checking/money market account – Checking/MMA credit memo
    • Savings/club account – Savings/club credit memo
61. Complete the following information legibly on the credit memo:
    1. Date
    2. Title of account
    3. Account number
    4. Tran. code
    5. Client's initial deposit
    6. Approved by
62. Write the client's initial deposit legibly above the account number.
63. Take the credit memo ticket to the teller line with the new account deposit.
64. The teller completes the deposit transaction and provides a receipt to the client.