The COOP National Shared Branch interface (CUSC/FISC) currently supports check disbursements but not money orders. Following is a technique that was shared with us by a credit union to offer shared branch members the ability to purchase money orders.
- Locate the account from which funds are coming, and make sure enough funds are available for both the money order and the fee.
- Run an OFAC scan and complete any paperwork and obtain signatures your credit union requires according to policy.
- In CU*BASE GOLD, enter the amount of the money order plus the fee in the withdrawal field of the account from which the funds should be withdrawn.
- Enter an “R” in the Proc Code field for this account and post.
- Enter the amount of the money order and your configured posting code (will need to be configured by your CU to designate the general ledger account to be used). Enter a description such as "purchase money order."
- On the next line enter the fee amount with your configured posting code (will also need to be configured). Enter a description such as "shared branch fee."
- Post the transaction.
- Launch Tool #667 "Print Miscellaneous Checks."
- Choose your money order bank code.
- Enter your configured misc. expense code (will need to be configured) and enter the amount.
- Fill in the "Pay to the order of" and "Remitter" fields, and press Enter to issue the money order.
See the related link below for instructions on configuring the necessary Misc. Posting Codes.