Credit Union Rate Change Tolerances
This window appears when you use Rate Tolerances (F10) on the initial Member Rate Maintenance screen.
To assist your credit union in the critical management of share, certificate and loan product rates, CU*BASE lets you configure “tolerance ranges” for share, CD and loan variable rate changes. These ranges are used by both Member Rate Maintenance and Loan Variable Rate Code Configuration to perform a reasonability test whenever a new rate is entered. This is designed to prevent obviously wrong rates from being entered accidentally, such as 73% instead of 7.3%.
Simply enter a low and a high rate to indicate the reasonable tolerance range for new rates. Default settings are a low of 00000 and a high of 99999 for all three product types.
CU*TIP: If you do not pay dividends on all your share accounts (such as checking accounts), the lowest range for Share Products should be set to 00000 to allow for a zero rate to be configured for some account types.
As mentioned above, this configuration is used only to prevent entry errors on the rate maintenance screens. It will not be obeyed by any loan category/product configurations nor is it used when updating rates manually on individual accounts, creating new loans or CDs, or similar.