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1.
I have an online credit card loan account where the balance from the previous month end was paid in full by the payment due date, yet the member still incurred a finance charge. Why?
Credit card finance charges can be confusing as they are different from a normal simple daily interest consumer loan, because billing cycles play a part in the finance charge calculation. Both current and previous billing cycles are required for the calculation to qualify for a configured grace period. Grace period flags are determined by the credit union and disclosed in their credit card disclosures. Finance charges are waived if the account qualifies for the grace period configured in the loa More...
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2.
If the member takes the full value of the secured CD or, checking, or savings account, is it possible for them to later have available funds in that account?
Since dividends may be paid after the loan is created, it is possible for the member still to have available funds in their deposit account after they pledge the full toward a loan.
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3.
The member has scheduled Automated Funds Transfer (AFT) and has selected the option to "pay the amount in full every time (for credit cards or lines of credit)". What happens if the AFT amount will result in an overpayment of the loan's current balance?
You can schedule the AFT payment to pay the amount in full every time (for credit cards or lines of credit). Making this selection allows the member to pay the LOC or credit card off every time a transfer is performed. (The recommended frequency with this AFT payment method is Monthly.) For LOCs , this means pay whatever the current balance on the loan is at the time the transfer is performed. If the AFT payment amount will result in an overpayment on the loan, the transfer amount will be adj More...
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4.
What configurations are needed to release the full amount of the check right away if I use RDC-IQ as my remote deposit capture (RDC) solution?
With your onboarding to RDC-IQ we will review the following with you to ensure your members’ check funds are released as you expect. For a check to be available right away, your credit union business rules (through e-DOC) will need to be set so that you do not need to review every check as it is processed. For example, your business rules must be set such that items at or below a chosen amount are not held for review, the maximum number of items a member can deposit is appropriate, and t More...
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5.
For Report Scheduler, can someone else edit or change my report settings?
No. An Employee ID is attached to saved settings. You cannot edit settings saved by another Employee ID, only to settings saved by your Employee ID.
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6.
If I'm using the new mortgage statements, what if we have closed end mortgage loans that are not in Process Type M? We cannot edit this field.
A request can be made through Lender*VP to change the Process Type for these loans. Please contact sales@lendervp.com or ask a Client Service Representative for assistance.
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7.
How can I get a member who has a balance on an OTB Credit Card onto my CU*BASE database so they are able to take advantage of a sweep account to pay on their credit card?
In some cases, the general upload file that is received by CU*Answers on a daily basis only contains accounts where a member has had a change to their account. Contact your OTB vendor to see if you can request a full file to be sent so that all card information would be sent in the upload file to CU*Answers. (In some cases if your CU is already being charged for the upload it is possible there would be no change in price to have the full file sent over.)
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8.
While using the "Work With" function in Tool #99 Manage My Custom Reports, I saved my query and updated the name. Why did it create another query with the new name instead of editing the existing query name?
As the CU*BASE query tools are IBM commands, we are not able to modify them; saving as a new query with the updated name is the expected result.
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9.
We are thinking of activating the new See and Jump features for online banking. Can you explain the thinking behind the security, and why only an account owner can have this access?
IMPORTANT NOTE: With the new look for It’s Me 247 being released during 2021, the “See” option shown on here is temporarily unavailable. Members who had See-only access previously configured will no longer have access. Jump, however, is still available. There are two major points to consider when thinking about allowing members to see information beyond the account to which they are actually logged in. Both extend beyond online banking to consider a financial institution&rs More...
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10.
How can iDoc Admin Access be granted to edit and delete documents?
To provide idocVAULT Administrator Access, an existing Administrator will need to: Login to idocVAULT, using the “My Document / Image Vault” button from the CU*BASE Timeout window Go to the Admin section and find the user Add the CUAdmin_CUA CU # (your CU#) permission to their account Save changes Once the user has been granted Admin Access, they will need to access the CU*BASE Timeout window and select “My Document/Image Vault” to login (instead of the “view e-docu More...
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11.
Explain how the Secondary Names (SECNAMES) file works to store joint owner names, especially in cases where a membership doesn't really have "joint owners" per se (like a Representative Payee).
The Secondary Names (SECNAMES) file stores instructions that link a membership account to another member or non-member record. The file stores links to joint owner names and beneficiary names for all non-IRA account types. (IRA beneficiaries are stored in a completely different file because they are linked to an IRA Plan Type, not specific individual sub-accounts.) The file also stores a third type referred to as miscellaneous owner which can be used for any purpose you wish. The most co More...
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12.
Why on an ATM or Debit card do I need to flag a member's card as "hot" and also close the same card in order to close the linked account or close the membership?
When a credit union statuses a member's card as 'HOT' or warm (Lost/Stolen/Fraud/Restricted), this information is transmitted immediately to your vendor to stop any further withdrawals/purchases being performed with that particular card. But at your vendor a 'Hot Card' is not considered to be a closed card. When your member's card remains at a HOT or Warm card status on CU*BASE, CU*BASE is still required to send any maintenance updates such as address change, phone numbe More...
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13.
What is the best way to handle payoff for an online credit card account?
There are three choices. 1. Manually add the estimated finance charges to the balance of the account and have the member make the full payoff at that time. Then clear the cumulative balance on the individual buckets to ensure that there are no finance charges assessed on the account. To do this you will launch Tool #20 Update Account Information. Select the credit card account and then select F16/Chg Type Maint. Select the individual bucket and select the Maintenance action code. In the cumulat More...
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14.
When I print a check, the logo and signature areas are not printing correctly. I am getting garbage characters such as !@#$%&*()abc, etc. Why is this happening and what can I do to correct it?
These symbols print when the printer doesn't know what graphic or font to use for the logo, signature, or MICR line. There are a few possible causes: Is this a new printer? If this is a new printer, the first thing to consider is whether the other printers at the credit union use Check Secure devices. Check Secure devices are no longer sold and are not compatible with new printer hardware. To transition from Check Secure devices to the new software based check printing methods, contact CU More...
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15.
How do I apply prepaid interest properly on a Mortgage Loan?
How you apply the payment properly depends on what type of situation you are in. Following are instructions on how to handle both prepaid interest types. Perform these entries via Tool # 492 Member Account Adjustment (Full) : If the prepaid interest is a positive entry: Type Amount Description Interest Offset G/L# Offset Location 92 $X.cc PREPAID INT $X.cc INT G/L BR# 85 $X.cc PREPAID INT $X.cc INT G/L BR# $X.cc is the prepaid interest amount The first transaction puts it into the interest buc More...
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16.
Why are card PANs masked in the Plastics/OTB inquiry?
Our policy is to adhere to PCI Data Security Standard/Security Audit Procedures mandates (these are the rules from Visa about how ATM, Debit, and Credit Card information is protected) which read as follows: 3.3 Mask PAN when displayed (the first six and last four digits are the maximum number of digits to be displayed). Note: This requirement does not apply to employees and other parties with a specific need to see the full PAN; nor does the requirement supersede stricter requirements in More...
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17.
When a database table (file) is expanded or reformatted as part of a development project, what kinds of adjustments might need to be made on my custom Queries that use that table in the definition?
For things like expanded balance and transaction $ amounts, Query will automatically adapt to larger amounts, and you generally won’t need to do anything. (The only exception is if you send the output to a vendor, they’ll need to be made aware of the larger amounts. Or perhaps if your report is completely full side to side and you need to remove a column in order for everything to still fit across a printed page.) As far as dates, if a date was formerly 3 separate fields for year More...
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18.
What is the difference between Single Premium, Level Rate and Monthly Renewable credit insurance?
All three of these terms describe the manner in which a credit disability premium is calculated for a specific loan. Single Premium - Calculates the premium through a set of rates that correspond to the Original Term of the loan. The premium amount assumes insurance coverage for the full term. This premium is added up front to the loan balance when the loan is created, hence Single Premium . If the loan is paid in full early, the borrower is entitled to a refund for the time between the pay More...
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19.
I have a 365 loan with an attached escrow account where the system made an escrow transfer for less than the normal escrow payment amount. How can I figure out why that happened?
In this situation , the most important piece of information you need to know is whether the loan category uses Escrow Partial Pay . You can determine this by taking the following steps : Launch Tool #458 Loan Category Configuration Enter the correct Loan Category code Select F17 - Payment Controls See whether or not Allow teller to post partial payments is checked If partial payments are allowed on the loan , see whether or not Allow partial escrow payments is checked If partial paym More...
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20.
What if I want to add a new primary (sequence 1) phone # for a member while still keeping the existing numbers? I’m getting an error that I cannot use an existing sequence number.
That’s true when adding a brand-new record, but it is possible to re-sequence numbers later once the records already exist, so try this: Use Add and add the new contact number, leaving the sequence # as is After saving, select the new number in the list and use Edit Change the sequence # to 1 and press Enter A warning message will appear; use Add/Update to confirm All remaining phone numbers will be re-sequenced to fit the new one in. TIP: When changing the sequence number for an existin More...
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21.
If a loan category is configured for a single payment per period (members are not allowed to pay ahead), at what point does the system know when to advance the next payment date and when it should not?
The answer depends on the payment period window, which runs from due date to due date (not calendar month). This is best illustrated by an example: A member has a loan with a monthly payment due date of July 25. A payment is made on June 30, advancing the due date to August 25. If another full payment is then made before July 25, the due date will not advance, because the loan is still within that same payment period window. If a full payment is made after July 25 (even if it's still in More...
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22.
What products does eDOC Innovations offer?
eDOC Innovations offers a full suite of e-document solutions. This includes paperless receipts, loan forms, reports and statements as well as eSign and Check 21 solutions. Together with CU*Answers they offer three different integrated document storage or vault models. For more information about eDOC Innovations and how they can automate your document workflow, contact John Beauchamp at jbeauchamp@edoclogic.com or phone 800 425- 7766 extension 228. edi edoc edocs
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23.
How do I adjust accrued interest on a member's loan account?
Because CU*BASE accrues interest each day on both the member loan record and the General Ledger account, we provide an option that will adjust both records, using Tool #30 Member Account Adjustment (Coded) or Tool #492 Member Account Adjustment (Full) . Through the use of the appropriate transaction code to either debit or credit the member record and a field that provides the offsetting G/L account number, only one entry is needed. Input your adjustment amount in both the Amount field and the More...
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24.
What is the Audit Tracker?
The Audit Tracker is simply a special type of Member Tracker. Trackers are used throughout CU*BASE to keep track of member communications, contacts, and events, for an ongoing record of the member's relationship with your credit union. The Audit Tracker is specifically designed to record events for your credit union's internal auditors. This includes things like BSA-related activities, OFAC scans, and the like. See the flyer referenced below for a current list of items recorded automa More...
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25.
What is iShield Security?
There are many, many components in the infrastructure that protects your member data, from passwords and daily backups to production redundancy and full-blown DR/BR plans. One important piece of that puzzle involves the protections we put in place to control data moving between the System i and a local workstation. Years ago no one ever imagined an employee popping a thousand member records onto a thumb drive and heading out the door. Today we have entire teams and sophisticated tools to prev More...
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