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 CBX 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 collecti  More...

The most common reason why a member might have a hold group that's different from what would normally be associated with their Tiered Service Level is because of delinquency. During daily delinquency monitoring the system sets the Electronic Deposit Hold Group to a certain code when members go delinquent, according to your credit union's settings in both the Member in Good Standing feature as well as your Delinquency Aging Levels configuration. If the system considers a loan to be deli  More...

In one of three ways: Note: The term 'subscriber' refers to your 'member'. Electronic Payments (ACH) - Fiserv's preference is to send all payments electronically. However in the Risk Model format it is not always feasible. Fiserv submits the merchant payment (via the fed) from a Fiserv settlement account the same day we submit the debit (via the fed) to the subscriber account. Fiserv is taking the risk on the payment. Electronic payments are typically sent when the subscr  More...

There are two methods used to track delinquent loans for reporting purposes in CBX: Method One (for Collections tracking) We have always tracked delinquency in two separate fields for “Months” and ‘Days” in the member files. When a loan is 30 days delinquent, it shows as “0 Months, 30 Days” delinquent. When a loan is 31 days delinquent, it is “1 Month, 0 Days” delinquent. A month is always considered 30 days regardless of the actual number of da  More...

The NSF Statistics Dashboard (Tool #557) will track this information for you automatically. It is separated into the NSF category and the Courtesy Pay Category. Credit unions are using this dashboard to help predict averages of NSF/Courtesy Pay fee income and also to track how many members may be using the service. You can click on any of the origins (listed in blue text) and you can drill further to members who had more than X transactions in a specific month. There are a lot of graphical oppor  More...

Trust accounts can be set up as either individual or organizational depending on the legal nature of the trust. Following are recommendations for handling situations when a member wants to set up a membership where the primary member and the first joint owner are, in essence, the same person. This happens most often for trust accounts. Currently in CU*BASE there are two ways to handle trusts: For trusts that use a person’s SSN (where you do not have a separate TIN for the trust), set up th  More...

In a nutshell, you will set up a Membership Designation Code for Representative Payee, with the label for primary name set to Beneficiary and the label for the joint owner name set to Rep Payee. Then the procedure is to open the membership in the beneficiary's name and SSN, then put the representative payee's SSN as the joint owner (type J secondary name link). TIPS: Remember that in CU*BASE the words joint owner simply are used to describe a particular record type in the Se  More...

To take advantage of the CU*Answers online imaging solution, there are a few required pieces of hardware. Each branch will each need an Gweep upload appliance to transfer the electronic images to the secure database. Additionally, scanners are needed to capture photo IDs (and supporting documents for loans), and signature pads are needed at each workstation where receipts are signed. Thermal printers are required for the system. These hardware devices are described in more detail below: Gweep U  More...

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 SWIVEL'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, SWIVEL. SWIVEL will submit a confirmation with a set of codes that the  More...

Yes, and you can even do both in-person and eSignatures on the same document, such as if you have the primary member in your branch but their co-borrower is not able to come in to the branch. You’ll simply uncheck that signer name when setting up the e-signing. Just remember to gather all your in-person signatures before sending out for e-signing, because you can’t capture in-person signatures once e-signing has begun.

Fiserv evaluates payment direction based on a proprietary algorithm that takes into account many factors. Some evaluation is done at the sponsor level, some at the merchant level, and some at the subscriber level. Sponsor level information determines what check types are acceptable – draft only or draft and corporate. Merchant level information determines the preferred payment method for that payee (electronic or paper) and if the merchant assumes responsibility for returns. Subscriber  More...

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...

The most important thing to understand is when the bill will be received, not how it will be paid. Payment methods are determined by the relationship between Fiserv and the biller, and are subject to change. When scheduling a payment, the system automatically pre-fills the earliest payment date the biller can receive the payment. The date can be altered to a future date, but not an earlier date. Once a payment begins processing, you will be able to view the payment method in the history. If the   More...

In the teller system, you can configure exactly how check holds should be calculated, including default hold days as well as calculated hold days by check or amount. In both teller posting and ATM processing, the software also allows an Electronic Hold configuration that can be used in conjunction with a Member in Good Standing configuration. Different levels of hold times can be configured based on the 'Member in Good Standing' and also within the Tiered Scoring feature. Using these   More...

When members post check deposits via RDC, what’s most important to them is getting the money into their account quickly. RDC-IQ is the fastest way to post RDC transactions to your member accounts – and the most cost-effective for your credit union. RDC-IQ is the near-real-time posting service solution you’ve been waiting for! If you use eDOC Innovations as your RDC back-end processing vendor, then take your RDC program to the next level. When a member deposits a check via  More...

To remain compliant with CAN-SPAM rules and to ensure all your email messages are delivered to members, you must include the following: Clearly identify the credit union name, address, phone number, and member service email address in the body of the email. Clearly identify the purpose of the email in the subject line. (See SAMPLE MESSAGES below.) Make a web-friendly Signature Line message. (SEE SAMPLE SIGNATURE LINE MESSAGE below. ) Clearly state why the member is receiving the email. Ensure y  More...

The posting of items will be delayed for the following reasons: The item fails your credit union’s business rules or has holds placed on items from your Automated Deposit Holds and Electronic Deposit Holds configurations. (These rules are also followed by RDC-IQ.) Your credit union is currently being processed through end-of-day or beginning-of-day. There is system maintenance, a rollover, or an event that impacts system availability. There are communications issues. In these instances, t  More...

These days, electronic communication is becoming more and more vital to your relationship with your members. Start by verifying your credit union's From: email addresses are set up properly. You can use a DNS tool to verify your domain, learn more in this Knowledge Base item . This is where bounced-back emails are delivered, one for loan status change emails (configured as part of your Underwriting Codes and generated by items in your lending queue) and all other general emails that CU*BAS  More...

Option 1: Create a Misc. Member Account Form with the appropriate text, and add a procedure for your loan processors to print this form whenever a loan like this is created. Since the CU*BASE online credit bureau system has no way to know if a credit score is used in the underwriting decision, nor whether the credit report was used for a mortgage or home equity loan, this will be manual process. HINT: This step could be added to the Electronic Checklist feature for your mortgage and home equity  More...

Simply put, Metro 2 is a new standard electronic data reporting format that is used to report credit data to all of the credit reporting agencies (TransUnion, Equifax, Experian, and CBC/Innovis). Designed to foster the reporting of complete and accurate data to the credit bureaus, the Metro 2 Format also addresses FCRA (Fair Credit Reporting Act) compliance issues. Using a consistent reporting format for all bureaus will make it much more efficient to report data, especially for credit unions   More...

There are several ways to obtain this data. To see the total number of active online banking members, use Tool #856 Tiered Svcs Monthly Comparison to display active user counts for any monthly period. (HINT: Click the Goal 4 button to display this data.) This can be done even if your credit union does not use Tiered Services for any other purpose. To print a report of usage statistics, use Tool #141 ARU/Online Banking Stats Dashboard To see online banking usage stats for a particular m  More...

Source of Receipt (SOR) is the paperwork that accompanies the checks to the Check Processor. It is the documented proof of when and from whom the checks were received. SOR provides the ABA# of the bank the checks are received from, the date of the cashletter, the amount of the bundle the check was in, the position of the check in the bundle (checks before after), and the tracer number assigned to the check. On the form you'll see a couple of abbreviations: IB stands for Item Before that   More...

Credit card finance charges can be confusing as they are different from a normal simple daily interest consumer loan, because billing cycles play a part in the finance charge calculation. Both current and previous billing cycles are required for the calculation to qualify for a configured grace period. Grace period flags are determined by the credit union and disclosed in their credit card disclosures. Finance charges are waived if the account qualifies for the grace period configured in the loa  More...

CBX has a tool that displays application statistics in a handy dashboard format. Tool #472 Loan Queue Activity Tracking allows you to choose a date range and branch to filter the information, with additional filters such as Underwriter Code, Delivery Channel, Interviewer ID, Loan Category, Product Code, Dealer #, and Business Unit, if you wish. You can also use this dashboard to analyze the data you've selected in your filters, as well as export to a PDF or Excel format. This dashboard can a  More...