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1.
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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2.
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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3.
I have a member who is requesting a copy of his statement from November of last year. I went in to Phone Operator to see if I could get a copy for him, and noticed that a statement was not produced for November. Why is this?
The most likely reason is that the member did not have any activity for the month that would trigger a statement, based on the CU's configuration. Most credit unions have their statement configuration set up to print a monthly statement only if the member has a checking account, and only if there is activity on that account, saving postage costs on months when there is no activity. You can verify this by viewing his Share Draft Transaction Inquiry in Phone Operator, then compare that to yo More...
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4.
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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5.
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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6.
What are the differences between an online ASP and in-house e-document strategy?
The differences ultimately come down to control and cost. The online ASP system is the fastest, simplest, most inexpensive way to get started with an e-documents strategy for your credit union. With online ASP you offload the back-end service management headaches to CU*Answers. We manage, backup, secure, and patch/upgrade the eDOC servers and databases and these processes fall under our SAS 70 and third party security audits. The online ASP system consists of electronic storage of receipts, loan More...
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7.
I am transitioning to Tool #1375 for my data transfers, what information do I need to know?
The previous tools used for uploading and downloading to and from CU*BASE will be retired when your credit union recieves the 20.07 CU*BASE software release. For online and Site-Four credit unions, that date is Sunday, July 12. Self-processing credit unions will receive the release the following Sunday, July 19. To replace the two tools, a new tool was introduced in November 2018, Tool #1375 Data Transfers (Upload or Download) . Following the release, this tool will be the default data transfer More...
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8.
I am receiving a "PC5250 License Error" with an error code when trying to launch a print session.
Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman","serif";} When launching a print sessio More...
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9.
On some of my 1098 tax forms, members who just opened a loan this year are seeing an amount under “Box 2. Outstanding Mortgage Principal” that they don’t understand. Where does this figure come from?
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...
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10.
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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11.
If members receive their one-time passcode for multi-factor authentication (MFA) via a text, how will my CU be charged for that text message?
We currently do not pass along the cost for these text messages. However, starting with April 2025 invoices (sent in early May), your credit union will begin being billed for all text messages related to multi-factor authentication at the same rate as our current text banking fees. CU*Answers clients can refer to the Pricing Guides on our website for current pricing.
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12.
I set my preferences to show the Large screen size in GOLD, but I forgot to change it back and when I brought my laptop home and launched CU*BASE the screen is too large and falls off the edge. Can I change my preferences back if I can't see the button?
Yep! Either press F5 to pop the Preferences window, or right-click anywhere on the home page and choose Preferences from the pop-up menu.
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13.
What are the requirements for a "from" email address in CU*BASE? How do I change my "from" email addresses?
Credit union FROM email addresses are closely regulated and monitored within CU*BASE. As a mass email sender, and as an entity that sends on behalf of the network of credit unions, CU*Answers must meet standards of compliance set forth by email service providers, such as Google and Yahoo. Many of these standards rely on our email being delivered to appropriate and accurate member emails, from correctly configured credit union emails. If we fall out of compliance with these standards, we run the More...
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14.
Will my credit union still review checks that fall out of our guidelines when we move to RDC-IQ as my remote deposit capture (RDC) solution? Currently, for example, we review checks that are over $1,000.
Yes, you can still set restrictions on the immediate release of funds, including setting a maximum check amount. You will build these requirements into your business rules. We will assist you with this during your onboarding process.
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15.
If I use Distribution Code 08 on an ACH distribution record (for a stop payment), will the stop pay order fall off after a transaction has hit the account?
No, CU*BASE cannot automatically remove the 08 Payment Stopped code from an ACH distribution record. ACH stop payments are tricky. Since an ACH stop payment is only valid for a specific payment, the system would have no way to determine which payment it was applicable for as it’s not easily identified by simply using the posting date. Often the information needed is located in other optional fields of the ACH record such as company descriptive date. For instance, if a member is NSF for More...
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16.
Are certificates subject to the APYE disclosure required by the Truth In Savings Act?
No. Term share deposits do not fall under the APYE member statement disclosure requirements Annual Percentage Yield TIS
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17.
If my credit union increases the minimum characters required for online banking passwords, what will occur on member accounts that fall below the new minimum?
Members whose character-count fall below the new minimum required characters will have their online banking passwords reset, and upon their first login, will have to change their passwords to meet the new password minimum length.
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18.
Does the 1Click Offers feature support the requirements of the Military Lending Act (MLA)?
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...
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19.
Will the Audit Tracker generate a report for examiners?
There is no automated Audit Tracker report. Since this is simply a type of Tracker, you can use the CU*BASE Report Builder to develop any custom inquiries or reports on the Tracker detail file (filename TKLRHN) that you need to view certain types of Audit Tracker activity. In this case, the Memo Type field is a particularly important indicator, as it can be used to group certain types of activity together. For example, memo type OO is used when an OFAC scan finds a suspected match and the emp More...
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20.
What's the right way to enter selection criteria for the new ISO-format dates in account and transaction files?
An ISO-formatted date will appear in the field list with the letter L in the Decimal column. When entering selection criteria, the date must be enclosed in single quotes and you can enter the date criteria in a number of ways: '2014-01-03' '2014-1-3' '2014-01-3' '2014-1-03' '01/03/2014' '1/3/2014' '1/03/2014' '01/3/2014' Notes: If you choose to enter the year as a two-digit year only, then you must include leading zeros on both t More...
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21.
I know the look and navigation will be different, but will there be any brand-new features introduced with the new look for "It's Me 247"?
Yes! Here's a list of just a few of them: Stuff members will love: Favorite accounts - Which accounts they want to see front and center when they log in. Favorite features - Features they want to see along with their favorite accounts, like quick transfer, eStatements, and bill pay. Member messaging - Neat little scrolling ads that pop up to alert members about messages they've received, documents ready for eSignature, password change reminders, and 1Click offers. And our favorite new More...
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22.
What types of patterns can you create for Abnormal Activity Monitoring?
The following types of patterns can be created: Velocity : This evaluates if the member has an unusual amount of transactions that fall within the criteria configured. Idle : This evaluates if the member has an unusual flurry of activity (either based on # of transactions, transaction type, or transaction amount) following a period of inactivity. Out of the ordinary : This evaluates if the member has a percent or amount increase compared to a prior activity.
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23.
Why does the Loan Maturity Report (Tool #467) not match the Selective Loan Information Report (Tool #788) for the number and amount of loans reported for the 5300 Call Report?
A discrepancy in the number and amount of loans is because the reports gather the information differently. The Selective Loan Info report (sometimes referred to as the Loan Trial Balance ) is gathering the loans using “Total number of payments” and the Loan Maturity Report is calculating the length of time to maturity from the appropriate date (as specified for “Calculate length of time from maturity from”) and gathering the loans that fall into the maturity ranges ent More...
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24.
Does the APY Calculator account for a leap year day?
The APY calculator is a generic calculator that does not take specific accounts or specific timeframes into account, and therefore uses a standard 365-day year. If you are comparing this to a real account, and that account’s term happens to fall across a leap year with 366 days, there may be a slight discrepancy in the exact amounts due to that leap day.
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25.
We love the look of the new vertical receipts! Will we ever be able to print ads or customized messages at the top of the receipt, near our logo?
That isn't really on our radar at the moment, but we did build the infrastructure so that it would theoretically be possible. So if your credit union has a budget and wants to discuss championing a project to add this functionality, reach out to the Developer's Help Desk and we'll see what we can do together!
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