Members submitted for qualification should not have any overdrafts in how many days?

The correct understanding is that members submitted for qualification should not have any overdrafts in the last 90 days. This is a crucial criterion because a history of overdrafts can indicate poor money management or financial instability, which are significant considerations in assessing a member's creditworthiness or ability to repay a loan. Financial institutions want to ensure that potential borrowers have a stable financial background, and a clean slate regarding overdrafts signals responsible banking behavior over the recent months.

While overdraft histories from shorter time frames, such as 30 or 60 days, might provide some insight into current financial trends, the 90-day period gives a more comprehensive view of an individual's recent financial conduct. It allows for a more reliable assessment of their banking habits and ensures that the financial institution mitigates the risk of lending to those who have shown inconsistency or financial distress in the near past.