The first step is to make sure your credit union has filled out the three required forms: Sign Up Form, Electronic Payment Service Agreement, and Fed ACH Participation Agreement. There is also a non-disclosure agreement to sign to receive a copy of Magic-Wrighter's SSAE-16 audit results. Once the Client Service and Education team has received the forms from your credit union, they will send the form to our third party processor, Magic-Wrighter. Magic-Wrighter will submit a confirmation with  More...

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...

No. This law actually pertains to merchant card programs where the merchant is collecting payments for services and goods sold. Since we do not run merchant programs on our platform, this reporting requirement does not apply to us.

Yes, if an online note is programmed in CU*BASE, it will be presented to and signed digitally prior to the loan funding. If the member cancels out and does not sign the form, the loan will not be created. Instead, the system will submit a loan application to be worked in the LOS Loan Queue (Tool #2). Deposit Secured loans do require special loan forms specifically coded for this type of offer. Your standard loan forms cannot be used with this feature without the special coding. f you are anx  More...

When a collection account is charged off it may qualify for a 1099C to be sent to the member. Qualifications are detailed on the IRS website. Access Tool #922 Update 1099-A, C and MISC Tax Form Data to enter or modify information to be printed on a 1099-C form for a particular member.

Members who are not U.S. citizens should have the Foreign citizen or Foreign corporation flag checked on their MASTER membership record. This can be done when creating the membership, or by using Tool #15 Update Membership Information (shortcut: umbr) . Memberships flagged this way will not be included in IRS reporting or tax forms processing. NOTE: This is different from the Foreign address flag, which just controls the format of the member's address. This is so that a foreign c  More...

Use Tool #52 Print Loan Forms , then use the Print Blank Forms button (F14).

The CTR did not populate because the system calculation can combine only those transactions that were posted at the same time. In this particular situation the member had seven deposits within a few minutes of each other where the total amount calculated under his Social Security number exceeded the credit union configured CTR flag amount over $10,000. None of the individual amounts he deposited, however, exceed the $10,000. The total excess of $10,000 calculated placed him on your BSA monitor  More...

A 1096 IRS Tax Form is required if an institution is filing your IRS Tax file using paper format. Since CU*Answers transmits your IRS Tax File electronically this form is not required to be completed. Reports (P1099 x, P1098 x , P5498 x) are generated automatically for each form type are generated when our Operations Team creates the files for the IRS in February and May. These reports contain the totals for each tax form type created.

Tool #21 is used for Misc Member Account Forms, such as TIS disclosures, certificate forms, and the like, but does not handle loan forms. To print a blank loan form, use Tool #52 Print Loan Forms , then select Print Blank Form without entering an account number or loan application number.

If you need to adjust the previous year total paid that will appear on a 1099-MISC form, launch tool # 990 Work with AP Vendors , select the vendor, then click the Update 1099 Misc for Prev Year button and update the amount that should be reported on form 1099-MISC. This must be done after January 1 but prior to the deadline set in your Year-End Processing Guide (typically within the first week of January) if you want the change to be included on the printed 1099-MISC form.

Yes. The annual Year-End Processing Guide includes specific steps on preparing your A/P vendors for annual 1099-MISC reporting. Certain configuration settings are needed to ensure that the system calculates the amount paid to the vendor for the year and places it into the Previous year 1099-MISC amount field on the vendor record during year-end processing. Prior to year-end: Verify the setting of the Create a form 1099-MISC year end flag on each vendor (via Tool # 990 Work with A/P Vendors )  More...

CU*BASE is designed in such a way that most programs are common between clients and menus. If a particular report has issues across multiple different printers, report the the issue to CU*Answers to investigate whether there is a programming error. However, the issue is typically isolated to a single workstation or to a single printer. Confirm the CU*BASE configuration of the printer The first step in the troubleshooting process is to ensure that the printer is configured correctly from top to  More...

The IRS, which makes changes to tax form layouts almost every year, recently added this new informational box to form 1098 to report the balance on a mortgage account as of January 1 of that same tax year. Each year on January 1 we capture the loan balance on all loan accounts in a special file, and then when tax forms are created at the end of the year we can use that figure. Therefore, for loans that were opened in a prior tax year, this balance is usually easy for members to understand.   More...

Follow the steps below to print a blank copy of the loan form: Launch Tool #52 Print Loan Forms . Click on Print Blank Forms (or press F14). Single-click the form you would like to print and click Select at the bottom.

The correct way to fill out the CTR form is for it to show the primary member and then the teller chooses on whose behalf the transaction was being made. Then add the joint owner as the person conducting business on behalf of another.

This comes from the Workstation Device Configuration in CU*BASE. To view or change this: Launch Tool #326 CU Hardware Configuration Select Terminal/Workstation In the list of workstations, locate the ID of the workstation you are looking up and double click on it (or just type the ID and press Enter) This will open up the terminal's configuration in CU*BASE. In the middle is the list of default printers where your documents will print: General Printer - this will be the printer to which a  More...

When using Tool #990 Work With Accounts Payable Vendors to verify your 1099 vendor information, take special care that you are entering the correct 1099 box number from the 2020 1099-MISC form instructions; especially paying attention to box numbers that changed, including 7, 9, 10, 12, and 14. As an example, if your vendor reports Gross Proceeds Paid to an Attorney , that was previously box 14 and is now reported in box 10, so in order to report this correctly you must change the 14 to 10 on t  More...

If you need to allow an employee to perform upload and/or download tasks (FinCEN, AIRES, ALM, uploading G/L entries to post, etc.), you must first complete the iShield Security Access Request form and have it signed by your credit union’s designated Security Officer to sign. Once our Client Services team receives your signed form and verifies it, a request will be submitted to our System i administrators, and you will be notified when the new permissions have been granted. This process wi  More...

To exclude persons or organizations on the lending fraud block list from receiving your 1Click Offers, exclude the members on the Block New Loans (BLOCKLNAPP) table/file when creating the list of accounts that will be included in the offer.

1Click Offers are purged monthly on the 2 nd Saturday of the month. If the 1Click offer is older than 30 days old at the time of the purge, it is purged. This means that 1Click offers may not be purged for a longer period if they are not over 30 days old at the time of the purge.

Following are some helpful tips to keep in mind when you have existing offers: Do not make adjustments to your Product Configuration when it is tied to an existing offer. Never delete a Product Configuration that is tied to an existing offer. Within the Product Configuration, be sure you configure a Delinquency code , a Maximum # of payments and a Frequency code of monthly in General Information section and a Del fine code , a Term default , and a Frequency code of monthly on the Online Banking   More...

We'll be showing those in the new member messages area, which appear immediately above the member's Favorite Accounts list on the home page. See the related link below for samples of those messages.

No, the 1Click Offers feature does not specifically support MLA requirements. MLA grants a number of protections for active duty service people and imposes specific requirements on the credit union in granting credit. At the heart of the matter is the calculation of the Military Annual Rate (MAPR) and the disclosures required prior to or at the time of extension of credit. The act requires that a unique APR be calculated incorporating things such as fees and credit life or disability. The MAPR   More...

Before you run your batch flood to your membership, it is important to run a test offer. This is done in a similar manner as defining your offer, but instead of running the offer for a batch of members, make the Query for just a single employee account or a group of employees. Sending a test offer helps to ensure that all key data elements are correct. When verifying your test offer, we recommend verifying the items below and any others you feel are key data points. Interest Rate Loan Amount Ter  More...