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1.
For security reasons, I like to lock out members from using online banking until they actually want to use it. But with non-use expiration and automatic deactivation features turned on, how do I run any sort of online banking promotion?
If you: A) automatically deactivate online banking access for all new members, and B) expire online banking passwords due to non-use after 90 days, then how do you run an online banking promotion? After all, sending a marketing piece to members won't do any good if they're disabled or locked out from logging in. Of course you could have them call the credit union to get set up, but here's another idea: Set up a special promotional period! Pick a date to start your campaign. Advert More...
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2.
What are Trends in Analytics Booth?
Analytics Booth Trends provide a quick and easy way to view your credit union activity over time. Trending information can show how your credit union is performing. Watch for blips and spikes to see if marketing campaigns are succeeding. Did you run a new membership drive last month? Watch the trend to see how it paid off. Trends can be viewed on over fifty key performance indicatiors including balance, member, and transaction data. The graphs displayed on the trends screen can be selected to More...
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3.
Can I change the graphics that display in Xpress Teller?
Yes, you can customize the entry screen of Xpress Teller with four custom graphics using CU Publisher suite. All four graphics can have hyperlinks. This feature allows you to market special services, offerings, promotions, or other campaigns you wish to keep top of mind with your staff as they assist members. Learn more about this feature in the store. See the link below. When uploading graphics CU Publisher be sure to use graphics that are 420 x 210 pixels if you use the standard size screen. More...
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4.
A member did not get either an October or November statement, but his December statement showed a range of 12/1 to 12/31, not 10/1 to 12/31 as I would have expected. Can you explain?
In this particular member's situation there was no activity in either October or November that triggered a statement. The credit union's quarterly (and year-end) statements are configured to produce a statement for every member, regardless of activity level, but monthly statements are more restrictive in an attempt to save postage costs, and not every member gets a statement every month. NOTE: CU*BASE statements have a considerable number of configuration options that allow credit unio More...
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5.
My member closed their account in November and received a November Statement but did not receive a December Statement. Why? How will they get their 1099-INT information?
If the member closed their account in November, they would receive a final statement for their November transactions but will not receive a December Statement as they did not have any transactions in December and the account was not active. This would also be true for members who closed their accounts earlier in the year. For example, for a membership closed in April, the member will receive their final statement at the end of April then will not receive another statement again (not even the q More...
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6.
Why is my December income statement printing zero amounts?
This will occur after the books are closed for the year. The closing process creates a journal entry containing amounts that will zero out the income and expenses for the year. This journal batch is marked as the year-end batch. To exclude the closing entries simply enter a Y in the Year-End column when printing the financial report (Tool #640 Print CU Financials ).
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7.
If our tax forms are uploaded to It's Me 247, how will members who are not enrolled in eStatements receive their tax documents?
Regardless of whether a member is enrolled in eStatements, the member will receive a paper copy of their tax documents in the mail, provided they earned enough dividends (or paid enough interest) through the tax year to qualify for a tax form. The presentation of tax documents in the My Documents section of It's Me 247 is an additional convenience that makes the forms readily available online, often earlier than they are provided by via mail. If you are not currently offering this feat More...
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8.
How can I archive a monthly report that lists all of the overrides my employees made to accounts that were frozen or had secured or uncollected funds? How can I easily archive a report for each type of override?
Tool # 868 Transaction Override Report allows you to create a report that shows when a transaction override was performed on an account that was frozen, had secured or uncollected funds, as well as transaction overrides to par value (below minimum). This report was added to the Report Scheduler feature with the 15.3 CU*BASE release in December 2015. It is easy to use the Report Scheduler tool to archive monthly reports. Just enter the filter screen and make your selection of which type of ove More...
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9.
If I activate Statement Style Fees, what happens on a month when a member gets only their credit card statement and not a regular account statement too?
Printed Statement Style fees are triggered only by production of a regular account statement (based on a file called STPRINT01, which is generated only with regular statements, not CC statements) . If a member gets only a credit card statement, they wouldn’t get a fee that particular month. If the next month they get both a credit card statement and a regular statement, then they would get a fee that time. (Note: We do always produce a year-end statement for every member, no matter wha More...
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10.
My member gets a Social Security (SSA) deposit via ACH. We use an ACH distribution to pay the member’s loan payment, but the loan payment was not made. Why did this happen and what benefits are there to using an Automated Funds Transfer (AFT) instead?
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...
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11.
If I have already closed my Year-End general ledger Income Statement, is it possible to create and close another income or expense entry for the closed year?
Yes. You will want to ensure that no other users are performing any general ledger processing when these steps are taken! The first step is to use Tool #202 Chart of Accounts/Budget Groups Maint and update the Current process month and year to 12/YY (December of the closing year). In addition you will want to flag the line item Current Processing year/month is equal to period 13 Y/E. Then create and post your entry using Tool #61 Create/Post GL Journal Entries. Remember to also post the ne More...
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12.
If I have changed my Social Security (SSA) ACH Deposits to use the Automated Funds Transfer solution, should I now consider changing back to ACH deposits?
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 with 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 chang More...
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13.
How do I deal with a terminal or printer session that is locked up or that has dropped its connection?
Here are a few helpful tips that may help you if a terminal or a printer session stops working. All of these fixes can be handled right at your office using Tool #762 Reset User Password/Device. When a terminal is not working or is locked up, authorized branch personnel may follow these simple procedures. Your printer and terminal sessions should reset and you’ll be right back to business. TERMINAL: 1. Launch Tool #762 “Reset User Password / Device.” 2. Insert More...
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14.
When does CU*Answers receive the ACH files that are available throughout the day?
The FRB produces six sets of files each business day on weekdays, Monday through Friday, except for Federal Holidays. CU*Answers posts the files as follows: CU*Answers receives the first and sixth set of files overnight and posts them by 8:30 AM ET. As this posting is a combined posting, two Receive reports and one Posting report are produced. CU*Answers receives the second set of files by noon and posts by 1:00 PM ET. Same-day credits must be posted with this file. CU*Answers receives the thir More...
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15.
What tools are available to comply with the FACT Act?
Based on our research there are only two areas of the FACT Act that directly relate to CU*BASE tools. One has to do with credit reports and the other with your credit union's requirement to provide certain notices to members. As far as the credit report requirements, Sync1 and the three credit bureaus are working together to provide all of the necessary information on all credit reports pulled through the CU*BASE online credit bureau access system. New data will appear on the human-reada More...
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16.
Can CU*Answers assist us in answering examiner questions about our risk assessment and how it applies to Audio Banking and Online Banking?
Of course we are always happy to assist you in explaining system features to your auditors and examiners. We will be glad to talk directly to your examiner to explain not only how the tools and security features work, but also the strategic ideas behind why things work they way they do and the direction in which we are heading. Please contact a CSR or our CEO directly if you need help working with your examiners.
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17.
Where does property tax or PMI information get entered into CU*BASE?
This data comes from the TAX file. This file is created automatically at year-end and populated with things like dividends and interest paid, and other details to be reported to the IRS and printed on tax forms. When it comes to Property Tax and PMI, things get a little complicated. Over the years the IRS has shifted back and forth as to (a) whether we are obligated to report this data to the IRS, and (b) whether it can simply be reported to members via the 1098 form, regardless of whether it More...
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18.
Who can perform case tracking for "It's Me 247" Bill Pay (Fiserv) users?
Credit Unions can use the Customer Care software tracking feature. However, the Client Service Department is happy to handle the tracking function for our clients.
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19.
How long are things such as transaction history, GL and check history, and credit report data retained?
For CU*Answers online clients, effective in March 2017 the standard online retention is 12 months for basic savings and checking accounts, and 48 months for all certificates, IRAs (shares and CDs), HSA share and checking accounts, club accounts (such as vacation, holiday, Christmas), tax escrows, and all loans. Prior to March 2017, data retention was 6 months for savings/checking, and 24 months for other member transaction history . Note that when this data is purged, it also removes the additio More...
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20.
How is the configuration of Credit Union Non-Business Days (Tool #243) affected by 7-day processing?
The non-business days configuration, which includes Federal holidays, is used only when calculating the release dates on check holds placed at the teller line or elsewhere. It is not related to 7-day processing. NOTE: Holds are released according to the release date on the individual Uncollected Funds record, regardless of whether daily processing is run on Sunday or not. If an Uncollected Funds record has a release date that falls on a Sunday, the hold is released on Sunday. This will work t More...
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21.
When are AFTs posted by CU*Answers for its online credit unions?
The following applies only to online credit unions processed by CU*Answers. All times are approximate. Q: When are AFTs posted? A: CU*Answers processes auto-funds transfers 365 days a year, including Sundays and holidays. Depending on your credit union's configuration setting, this will either happen during end-of-day (EOD) processing at the end of the business day, or during beginning-of-day (BOD) processing at the beginning of the business day. For CU*Answers, EOD and BOD are typically r More...
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22.
Per Reg CC, check holds are based on business day. Does the CU*BASE check holds feature only count business days in its calculation?
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...
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23.
How does 7-day processing affect beginning-of-day (BOD) and end-of-day (EOD) processing?
With 7-day processing, beginning-of-day and end-of-day processing is run every day. Beginning in 2021, CU*Answers also runs EOD/BOD on Federal holidays, including Memorial Day, Independence Day, Labor Day, Thanksgiving Day, and Christmas Day.
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24.
I would like to use the CU*Answers facility for a special event. How do I set this up?
We will be happy to have you as our guests! The CU*Answers Learning Center will seat approximately 30 people in a training room-type environment. We can also arrange seating for a smaller group in a roundtable format if desired. We also have a Conference Room which will seat 8-12 people. Catering services can be arranged if desired. Your questions may be answered in our Facilities Brochure , which highlights meeting room accommodations and introduces our CU*Answers leadership team. Contact More...
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25.
What is the timeline for performing A2A transfers and when the actual posting occurs?
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...
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