Please monitor the PLNI2P reports that are sent to CU*Spy daily. There is one report to show you all loans that have switched from Interest Only to Principal Interest (P I) and one exception report.

Using CU*BASE to Comply with New Rules for Tracking Beneficial Ownership FinCEN has issued new rules under the Bank Secrecy Act that require financial institutions to identify and verify the identity of the beneficial owners of all legal entity members (corporations, etc.). Under the final rule, credit unions are required to have written procedures to identify and verify beneficial owners of legal entity members who open new accounts on or after May 11, 2018. In addition to identifying and coll  More...

CU*Answers does not report business loans to the consumer bureaus, nor pull from or report to commercial bureaus. We only report and pull for consumer loans.

Technically, yes, but you will need to go through a similar process as you went through to move to vertical receipts in the first place, including scheduling an after-hours conversion with someone available at every branch to perform testing. Remember that all of your printers must use the same receipt format, so if you decide to switch back, ALL of your receipts at every branch will go back to the old format. NOTE: A date has not yet been determined, but it is likely that at some point down th  More...

There are three options available for setting up users, assigning permissions and resetting passwords in BizLink 247 (formerly It's My Biz 247 ): Scenario A: Company controls access to BizLink 247 and PIB-MLO (credit union still can support) If the company elects to use PIB-MLO, your credit union will only need to set up an initial administrator user in CU*BASE. Then the business will have a user that can log into PIB-MLO who can manage online banking access, including adding additional use  More...

Credit unions have the option to have teller check holds based on business or calendar days. Use Tool #849 Automated Holds Configuration to update how the system calculates holds. If you select to have the system calculate using only business days you must also launch Tool #243 Configure CU Non-Business Days which allows a credit union to indicate what processing days they follow (Sunday through Saturday), to indicate whether the credit union observes all standard Federal holidays, and/or t  More...

The MSG TYPE values describe types of 'authorizations' and 'transactions' processed through the CO-OP network. Authorizations: (100 110 120 130) For PIN Authorizations there is no hold on the member's funds. However, Signature Authorizations place a hold, CU*BASE shows this as a debit authorization comment in OTB processing. In either case this transaction is not posted to the members account. This is just a POS (point of sale) authorization for the merchant. It could be e  More...

Yes. CU*Answers owns CU*BASE. CU*NorthWest is the escrow agent for CU*Answers and holds the source code for CU*BASE in escrow. Use the link below to view a copy of the most recent signed certification.

This is due to the change in Metro 2 guidelines put into place in May of 2018. When those changes were put in place it was determined that any memberships with an “MO” membership type would no longer be reported to the bureau. CU*Answers does not report business loans to the consumer bureaus nor pull from or report to commercial credit bureaus.

As far as Reg CC goes, business days are definitely covered by your Business Days configuration ( Tool #243 Configure CU Non-Business Days ). If your business days are configured for Reg CC as Monday-Friday, it will stay Monday-Friday even with 7-day processing, unless your credit union makes that change.

If you pull credit reports using the CU*BASE online credit bureau access system, credit report data is stored online and can therefore be mined for opportunities. There are a couple of ways you can find this information: Use Tool #976 Where Your Members Borrow This tool pulls trade line data from stored credit report files, showing other financial institutions with whom your members do business. This tool lets you make a direct comparison between your credit union and a competitive FI. F  More...

This can be done using the A2AFT feature, which combines the CU*BASE auto-funds transfer (AFT) functionality with the A2A feature that allows funds to be transferred to or from an outside FI using ACH. Refer to the booklet below for complete instructions. Setup is done via Tool #884 Update Auto Transfer Information then Add A2A Out (A2A must be activated for your CU for this feature to appear). If you choose the Sweep the entire balance... option, you can specify the minimum amount to transfe  More...

The fields are related to Process Codes, in that they are derived from the code attached to the message received from the plastics processor (vendor, or switch). The Type you see in the initial Type column of the Activity screen relates directly to the Transaction Description when you view additional transaction details. Transaction types may not apply to all vendors. Examples of these labels are as follows: DEP (Deposit Transactions) ATM/DEP A deposit made at an ATM. ATM/DEP - including a $  More...

Similar to It's Me 247 online banking, BizLink 247 (formerly referred to as It's My Biz 247 ) is an online and mobile web banking product specially tailored to meet the needs of your business members. BizLink 247 offers many of the same features as It's Me 247 but is designed so multiple teammates can sign on to the company's membership for their various duties. This product and its companion, PIB-MLO (Personal Internet Banker Multi-user Log On) allows a business owner to have  More...

No. At the current time CU*Talk phone banking is not available for BizLink 247 (formerly known as It's My Biz 247 ) accounts.

The next due date cannot be greater than the maturity date. When processing delinquency at end of day, the system compares the maturity date and the next due date. If the next due date is greater than the maturity date, then the next due date is replaced with the maturity date and partial pay is zeroed out. Since both the next due date and maturity date are in the past the total current balance becomes delinquent. Each month it is recommended that the loan department review the loans that will   More...

No, at this time these offerings are not available for business members using the BizLink 247 product (formerly known as It's My Biz 247 ).

Both can be found on our website at the following links: To request a free copy of our current Business Continuity Plan: https://store.cuanswers.com/product/cuanswers-business-continuity-plan/ Additional information about the CU*Answers Business Continuity Program can be reviewed at: https://www.cuanswers.com/solutions/business-continuity/ To request a free copy of the most recent recovery/rollover results report: https://store.cuanswers.com/product/cuanswers-recovery-test-reports/ Prior copies   More...

At this time due to compliance reasons business accounts cannot be set up with P2P processing. We are looking at allowing this feature in the future but do not have a ETA at this time.

It generally takes about two business days for the item to post, depending on the cut-off time you have set up with Magic-Wrighter. For example, say you have a cut-off time of 12:00 noon ET. If you performed the transfer to pull funds from another institution before 11:45 a.m. ET* on a Monday, the funds would be pulled from the other institution and deposited to the member's credit union account no later than Wednesday. If posted after the cut-off time on Monday, the transactions would be  More...

Yes. The vertical receipt format does not support the following receipt types (available only for horizontal receipts): Certificate creation Stop payment orders On-demand dividend payments (CDs) On-demand dividend payments (savings) Direct/mail batch deposit In addition, the following receipt types are being sunset completely as of the 21.05 release (both horizontal and vertical receipts): Redeem share certificate Miscellaneous expense/receipt Transaction reversal Receipt types are activated as  More...

Prior to the 16.10 release, the SSA began using multiple Company IDs, and it was recommended that credit unions consider using Automated Funds Transfers (AFTs) to handle distributions. Beginning the 16.10 release a new cross-reference system will be implemented that will automatically funnel all incoming company IDs from the Social Security Administration and treat them as if they came from one, consistent company ID we’re referring to as the “Primary ID.” With the changes ma  More...

Yes, but the receipt will reprint using a vertical format (receipt printers cannot go back and forth between orientations). Parts of the receipt may not look exactly the same as the receipts you are printing now, since we are recording data a little differently specifically for vertical receipts. But we’ll print what we can based on what was stored back when that transaction was posted.

CU*Answers provides services to credit unions across the country. As of April 2023, CU*Answers serves 206 credit union clients in 28 states. Along with our cuasterisk.com partners, we provide services in 42 states, including Hawaii, Alaska, and the US Virgin Islands.

No, our CSRs will not reset the 2-character CU*BASE Employee IDs for your staff. This must be done by an internal CU security officer. Use Tool #762 Reset Employee ID Password . (This can also be done via Tool #327 CU*BASE Employee Security using the Reset PW option.) It is important that credit unions insure proper training to their employees regarding the expiration of their CU*BASE Employee ID password. We deliver a warning message of expiration 7 business days prior to the staff member.   More...