Yes, the general ledger entry will post automatically in end-of-day processing. Account Maintenance can be used to change the dividend application for member accounts based on the product parameters. For example, a Student Checking may have an age maximum at which point the checking account may need to move the credit union's regular checking product offering. If the Dividend Application configuration have the same suffix range, there is no need to order new checks, change any ACH or Payroll  More...

If your regular share account is set up with a split rate, assuming the majority of your accounts are at the base rate, most credit unions elect to use that rate as the average rate on the call report. The call report is looking for an average rate, not a weighted one. If you wanted to calculate the weighted average rate on a split-rate share product for other reasons, you could use Tool #344 Div/Int Split Rate Forecasting. Take the Total Forecasted Dividends, divide by the Total Average   More...

Certificate types or Dividend Applications that are Health Savings Accounts (HSAs) or IRAs cannot be set up as CD/Share Secured loans. Escrow accounts cannot be set up as Share Secured Loans. Only Installment closed-end loans can be selected when configuring CD Secured, Share Draft Secured, or Savings Secured Loans. Mortgages and open-end loans cannot be selected.

You can change the setting of the Allow shared branch trans field on the member's master record. When that member's account is selected at one of your shared branch locations, CU*BASE will display a message that shared branch services are not available to that member. (Make sure all your shared branch partners understand what to do when their tellers encounter this message!) To update this setting, use Tool #15 Update Membership Information. (The flag appears on the final update sc  More...

Infrequently, your CU may find a share draft that is not your item (drawn on another institution) on your daily member share exceptions. The following steps should be taken to process these items correctly: Obtain a copy of the item to confirm that it is actually drawn off another institution and notify your Item Processor to process an adjustment with the Federal Reserve. Then delete the item from your exception list/file by changing the status of the item from an 'A' (Active) to a &  More...

Yes! It is included in the CU*BASE product at no extra charge and provides a full Teller interface between two CU*BASE online credit unions, whether part of the Xtend Shared Branch network or just a credit union-to-credit union contractual arrangement. That means daily automated entries to your settlement and fee G/Ls. Some credit unions use it for additional service to their members or it can be a contigent disaster recovery configuration. The extent to which the credit unions cooperate is full  More...

At the heart of the matter is the calculation and rounding the system uses. As we state in our documentation, we calculate to 8 decimal positions and half round up in the fourth. We warrant this math and it has not changed since 2006. What that means is that the member must have accrued at least 5 ten thousanths of a penny before we will begin accumulating the amount. In the case of a member who has more than the minimum balance to earn a dividend but less than the amount to actually accumul  More...

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...

Infrequently, a CU may find a corporate check or money order appearing as an INVALID ACCOUNT on their daily member share exceptions. The following steps should be taken to process these items correctly: The CU will want to obtain a copy of item to confirm that it is actually a corporate check or money order. Then, they will want to delete the item from their exception list/file by changing the status of the item from an 'A' (Active) to a 'D' (Delete) - the item will rem  More...

The COOP National Shared Branch interface (CUSC/FISC) currently supports check disbursements but not money orders. Following is a technique that was shared with us by a credit union to offer shared branch members the ability to purchase money orders. Locate the account from which funds are coming, and make sure enough funds are available for both the money order and the fee. Run an OFAC scan and complete any paperwork and obtain signatures your credit union requires according to policy. In   More...

The member will be subject to the teller credit union's configured check printing fee (the shared branch where the transaction is being performed ).

For Shared Branch transactions, the teller credit union's check hold configuration is used. Since the Shared Branch credit union received and deposited the member's check, its hold configuration was used for the transaction.

If your credit union uses the check holds configuration, holds for shared branch members will obey the configuration from the teller credit union and will completely ignore the electronic deposit hold override flag setting.

Credit unions can choose to hide the 000 account for select memberships. This is a business decision that may be elected for special accounts, for example business accounts. This feature must first be activated for the credit union in the Master Parameters in the OPER screens. Then credit unions activate it by using the Membership Designation configuration. Once activated in the membership designation, the feature will cause the 000 account to be ignored (for accounts of this membership des  More...

The CU*BASE BSA monitoring tool does include data about shared branch transactions conducted via its own internal shared branch tool (includes Xtend Shared Branching). From the national shared branch networks (such as CUSC/FSCC), CU*BASE does receive Funds In amounts (separated by checks and cash) and includes those in BSA tools. (Currently Cash Out is not included, although that is planned for a future project.)

If you find that your member's certificate begins to pay dividends on a daily basis and no longer for the configured time frame such as monthly or quarterly, you'll need to review the certificate to see if the maturity date is in the past and if the renewal code is manual redemption. Since the maturity date is in the past and there are no instructions on the certificate to roll it over, it will pay dividends daily in expectation that it is not being renewed and the member will be taking  More...

Use Tool #15 Update Membership Information. On the third (final) screen, check the Dividend withholding checkbox. (Refer to the link to online help below for a sample of this screen.) NOTE: The % of dividends that is withheld is controlled by a setting in CU Master Parameters. Self Processors can access this via MNOP09 #1. Online CUs please contact a CSR for assistance.

There is a Report dividends to the IRS flag on the Dividend Application configuration for savings and checking products, and also in the CD Type configuration for certificates. If this is not checked, dividends paid on those accounts will not be reported. These flags must be verified every fall prior to year-end processing, as instructed in the Year-End Processing Guide, so that IRS forms and tax reporting is done correctly at year-end.

Yes. CU*BASE offers an great feature to calculate a membership ownership or patronage dividend that allows for an audit run to evaluate the total amount and accounts that may be excluded. At the time the patronage dividend audit or posting run is processed, there are two files created that reside in the QUERYXX library. The data file for the excluded accounts is PATRDIVEXC. For the accounts that will earn the patronage dividend, the file name is PATRDIVINC. The data in each file represents the l  More...

This particular issue arose due to N\A being listed in the driver's license and code word fields. With these indicators, the program is getting confused because \ is seen as a field separator rather than a text option in the field and is causing the program to read the fields incorrectly. This is why the account was being listed as invalid. These fields will need to be updated to include either the actual data or simply be left blank.

Suspended Dividend Application Configuration Codes (found in Tool #777 Savings/Checking Products Configuration ) cannot be deleted if there either active member accounts (found in data files MEMBER1 MEMBER2, or MEMBER4) or member accounts closed in the current year (found in data files ACHIST1, ACHIST2 or ACHIST4). The dividend application codes are used for their description of the share/draft product on member statements for closed accounts for the current year. They can be deleted once the an  More...

The member will be subject to the teller credit union's configured money order printing fee (the shared branch where the transaction is being performed ).

By clicking on the Accounts button in Customer Care, you will see a list of the accounts that member has had enrolled. Across from each account an active or inactive detail will be displayed.

Keep in mind this only works if you are changing the DivApl from one product that uses an average daily balance (ADB) calculation to another that also uses the ADB dividend calculation. When dividends are calculated at the end of a month, the system will look at the cumulative balance on the account record. Entering a new DivApl code on the account record does not cause that cumulative balance to change.

In ths case, since deposit item fees are charged in a batch at the end of the month, the member will be subject to the normal fees charged by their own credit union, regardless of where the deposits were posted.