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...

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...

Joint owner and beneficiary names can now be updated for all sub-accounts using the following tools: Tool # 3 Open/Maintain Memberships/Accts (shortcut: open) Tool #20 Update Account Information (shortcut: acct) member service rewrite

IMPORTANT NOTE: When It’s Me 247 was updated in 2021, the “See” option shown on here was made unavailable. 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’s role and responsibility in protecting member private data via all access channels, from the teller line to a back office employee answering   More...

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...

Both of these terms refer to types of Secondary Names records that can be linked to individual savings, checking, certificate and IRA accounts. There are actually three types of links, tracked via records in the SECNAMES (Secondary Names) database table: Joint owners (type J ) Beneficiaries (type B ) Miscellaneous owners (type M - added with the 18.10 release) All are simply links from an account to another membership (MASTER) or non-member (MSNONMBR) record. Labels used when displaying t  More...

When joint owners are created you must check the new Print name on correspondence flag in order for that name to appear on standard correspondence such as member statements and notices. Only two names per sub-account can be flagged to print on correspondence.

The process can vary a bit according to the vendor, but here's a discussion about how it works for credit unions on the CO-OP network, as an example. In most cases, debit card authorizations create a Misc. Secured Shares record on the member's account to hold the funds. When the actual transaction comes in, this record is automatically deleted. (There are exceptions to this rule, such as gas purchases.) A little history: In the past, debit card authorizations would add a hold to an ind  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...

Any time a new member or non-member record is created, OFAC is checked, if turned on in your workflow controls. It doesn't really relate to joint owners, misc. owners, or beneficiaries specifically, but covers them just the same. Member service rewrite

There are several configurations that control the member’s ability to set up and maintain Automated Funds Transfer (AFTs) online. Does your credit union's Personal Internet Branch configuration allow the maintenance of AFTs? Are AFTs configured to show in online banking? Does the member's PIB configuration allow maintenance of AFTs in online banking? For existing AFTs: Is the record locked to prevent changes in online banking? 1. Does your credit union's Personal Internet Bran  More...

When a membership is closed, the system will check to see if that member account was linked to any other accounts as a joint owner, beneficiary, IRA beneficiary, or additional signer. If so, a non-member record will be created automatically and the links will be to that non-member record. NOTE TO NEWLY-CONVERTED CUs: During the original conversion of your joint owner data to the new Secondary Names file, some of your joint owner links may have been made to closed member files, in cases where   More...

As of May 2023, there are 104 owners of Xtend. This ownership comprises 103 credit unions plus CU*Answers, each having purchased 200 shares of stock in the CUSO. Each owner is allowed one vote on issues brought before the group.

File MSNONMBR has a field (NMDTOPN) that is the date the non-member record was created. Although that date doesn’t appear on the non-member maintenance screen (Tool #997 Work With Non-Member Database ), you can Query it. It is currently not used for specific processing, and your credit union might have old records (brought in as part of your conversion, for example) that do not have an open date on them. But new records created whenever you add non-members in CU*BASE will record a dat  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 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...

Use the link below to take a look at our latest Annual Report for ownership statistics.

When you use the filter buttons on the File Maintenance Inquiry dashboard (Tool #159: Audit File Maintenance Inquiry (CUFMNT)), indicators note which programs, fields/columns, and files/tables AuditLink has flagged as “critical” for auditing teams to monitor on a daily basis. You can quickly sort by that indicator and select only those items for a quick scan of maintenance that directly affects member accounts. Below is a listing of these critical items. Columns/Fields Field Why   More...

To run a QualiFile risk assessment scan on a non-member joint owner, follow the steps in the related link below.

If you are creating a membership by copying over the data from an existing non-member record (like a joint owner or co-borrower is joining the credit union), the system will copy over all phone numbers tied to that non-member record and attach them to the new membership, then delete the old numbers tied to the non-member (since the non-member record itself also gets deleted at that time). This is not the same when copying from another existing membership , or when copying from a closed membershi  More...

Tools for Tracking the Change Fund (Teller Vault Cash) Within the Trends section of Analytics Booth , there is a Powerline for Branch Cash Total. This Powerline is designed to provide credit unions with a daily total of all teller and vault cash as of EOD. Credit union executives and data analysts can review this data to determine if the amount of branch cash on hand at EOD is increasing or decreasing. The Vault GL Verification Dashboard (Tool #937) allows you to review the net change for   More...

Yes, if you create them as Secondary Names as recommended, these will be scanned the same as any other member or non-member record.

The large loan payment was applied as a principal-only payment, which does not move the next payment due date on the loan. When the payment was reversed using the 95 reverse loan payment code, the due date was backed up and made the loan delinquent. That evening, the Auto Funds Transfer system tried to satisfy the delinquency on the loan because the delinquency control flag was turned on in the AFT record. Whenever you reverse a loan payment, make sure to review the loan due date before an  More...

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...

Starting with the 16.10 release, credit unions can begin allowing AFTs with accounts that are “off the books” including accounts set up with the CU*BASE Account to Account (A2A) and CU*BASE “Off Trial Balance” (OTB) feature. The screen used for delinquency handling is skipped when setting up an AFT in CU*BASE with one of these accounts. See a link to this skipped screen below. When members set up AFTs in online banking, they cannot set delinquency rules. For this reas  More...

As of April 2023, CU*Answers has 150 credit union owners in 25 states.