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1.
With Deposit Secured Loans, do members sign a Promissory note before the loan is funded? What happens if they do not sign the form?
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...
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2.
Can you explain how the system secures funds for debit card authorizations?
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...
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3.
There is a IRS reporting requirement that states that companies that process credit and debit card payments are required to submit IRS Form 1099-K. Will CU*Answers be producing this form?
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.
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4.
How do I change a Social Security number that's on a non-member record and put it on a member's account instead?
There are several steps in removing a member's Social Security number: 1) Run a global search to see what types of relationship codes the SSN has with your credit union. 2) The first relationship codes you will want to review are the 'CB' or 'JI' which mean the non-member is a co-borrower and/or joint owner on the account. They need to be removed first. To remove them, launch Tool #3 Open/Maintian Memberships/Accounts, choose Update member information then Joint owners an More...
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5.
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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6.
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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7.
When looking at the ATM/Debit or Credit Card Activity screen, what does the indicator in the Type and Transaction Description mean?
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...
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8.
What precautions should I take when adding distribution records for a member who has more than one deposit coming in from the same institution but for different household members, for example Social Security deposits?
Special care should be taken when adding distribution records for a member who has more than one deposit coming for the family from the same institution. Take the time to research the member ACH records using the ACH inquiry screen, and if there isn't enough information on this screen, go to CU*SPY and find the PACXTB report to review the ACH detail. For example, the Smith family receives three ACH payments for Social Security benefits: one for the husband, John, one for the wife, Mary, and More...
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9.
I have a husband and wife who both receive Social Security payments to the same membership. Now that CU*BASE uses the new way of handling ACH transactions from the SSA, these are causing duplicate distributions to be posted. What should I do if my members still wish for them to be separate transactions?
With the 16.10 release a new cross-reference system was implemented that automatically funnels 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.” In cases where the Depositor ID is the same, for example a husband and wife, these ACH transactions will be handled by the same master ACH distribution record under the Depositor ID since duplicate Depositor IDs are no More...
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10.
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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11.
How does the A2A process get started? Once the form is filled out what do I do?
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...
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12.
I would like to view each employee and their security (what options they have access to). Is there a report I can pull instead of just printing each screen in the Employee Security configuration program?
Yes. Use Tool #357 “Employee Security Audit Report.
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13.
Will I be able to reset a member's security questions in CU*BASE?
Yes. You won't be able to read the answers to the member, but you can reset (clear) them. This will force the member to set up new answers and/or questions the next time they log in. This can be done two ways: Use Tool #72 Update ARU/Home Banking Access and click the Reset Security Questions button. OR In Inquiry/Phone/Teller, click the Home Banking Mbr button then use F11-Reset Quest.
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14.
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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15.
How do I send 1099C forms to members that are written off or charged off?
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.
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16.
Does Employee Account Security control an employee's access to an account from everywhere on CU*BASE? For example, how about from Payroll or ACH?
Not every feature that potentially shows account details on an employee's account is governed by the Employee Account Security controls. Apart from technical impracticalities, our basic philosophy has been that employees who are given access to “sensitive” features (like Collections, or posting payrolls, etc.) should be trusted employees, and they should be allowed to use the tools to do their job. If they have to be hobbled or monitored, then perhaps they shouldn’t be tr More...
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17.
How can I get a report or printout of my Loan Security
Codes?
While in the initial Security Code configuration screen, click the printer icon at the top of the screen and a report is produced of the codes configured. (Use the Related Link below to see a picture of this icon.)
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18.
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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19.
What reports are associated with the standard CU*BASE ATM/Debit card processing platform and what is each used for?
The reports associated with the Standard ATM/Debit process are as follows: LPANTX1 Detail Information for transactions (Card # order) LPANTX2 Summary Information for transactions (BIN order) - USED FOR BALANCING SETTLEMENT TOTALS LPANEX Exceptions report (Broken down into three sections: Denials, Unposted Items, and ISA Fees) LPANAC1 Detail Information for transactions (Account # order) LPANAC2 Summary Information for transactions (BIN order) PADLIM Report More...
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20.
We are in the process of creating a procedure in the case of a security breach in which we might need to have all members change their online banking passwords. Is there a way to configure the system to force a password change every 6 months or 12 months (even if the account is active)?
Tool #569 Online/Mobile/Text Banking VMS Config > Online Banking Password and Security Settings includes a setting labeled Expire stale passwords after xxx days of non-use . This means if a member does not log in within that period of time, they must answer all of their security questions in order to reactivate or change their password, before they can log in. The maximum allowed is 90 days, so a value 6 or 12 months is not currently allowed. Remember that this process expires the passwo More...
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21.
A member did cash transactions in excess of $10,000; however, the CTR form did not pop up in teller processing for the teller to complete the form when the transaction occurred. Why did this not happen? Is it because there were multiple transactions completed at the same time?
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...
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22.
Can we pull credit reports for member service products such as debit cards, checking accounts, membership requests?
Yes. You can pull a credit report for any service using the online credit bureau process. Using Tool #53 Process Member Applications, use action code CR to pull the report without creating a loan request and application. We can then create Member Services denial notices for debit cards, checking accounts, ATM cards, etc.
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23.
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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24.
I need help with ordering an online credit card for the co-applicant/secondary person on a Visa account. I just ordered one for the member; how do I order one for the wife, who is listed as a co-applicant on the Visa loan?
T o order an online credit card for a co-applicant on the loan account, you would complete the following steps: Launch Tool #12 Update/Order Online Credit Cards Enter the member number and suffix for the Visa loan account OR If you have the last 4 digits of the primary member's Visa card number, you may enter that instead Use Enter to continue On the next screen you will see a card that has been ordered for your primary member only. On the lower left corner of the screen, choose Add More...
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25.
Is there any way to quickly tell what card was used for an ATM/Debit card transaction? For example, a jointly owned account with 2 cards for the husband and wife.
Yes. When reviewing the history on the account, you can select the additional transaction information for the transaction in question. This will take you to the Recorded Card Activity screen for this transaction. The top of the screen presents the last four digits of the card #, and right below that, the embossed names. If a husband and wife each have a card with the same PAN (card #), you can find the card sequence # in the top right corner of the Recorded Activity Screen. This will allow y More...
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