Credit Report Evaluation for New Memberships

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PCRBREQ-1B Credit Report Evaluation 1046

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This window will appear when opening a new membership, if configured to do so in your credit union's Workflow Controls.

Helpful Resources

Visit Show Me the Steps for easy instructions on how to use CU*BASE to complete tasks related to opening/closing memberships/accounts.

Screen Overview

This window is used to verify the status of any online credit reports on file for this member. If the existing report date and number read 000000, there is no report on file for this SSN. If a date exists, your credit union policy will dictate whether or not a new report should be pulled at this time.

If you wish to pull a new report for either applicant now, place a checkmark in the Pull credit report for field and use Enter to proceed to the credit report request screen. Otherwise use Skip (F8) to continue without pulling a report.

• Use View Credit Report (F20) to view an existing online credit report.

Filling Debts From Online Credit Reports

If your credit union uses online credit reporting, and has elected to allow the “fill in debts” feature to be activated (contact a CU*BASE client service representative to activate this flag), a Fill debts flag will appear on the right edge of this window.

The purpose of this option is to allow you to pull in information from a recent (or new) online credit report directly into the Debts section of the member's household database, for use with future loan applications. Simply place a checkmark in both the Fill Debts field, and use Enter to proceed.

Some considerations if you choose to use this feature:

• If you are also pulling a new report at this time, the debts will be filled once the report has been pulled. Otherwise the debts will be refreshed using data from the most recent credit report already on file.

• Any debt information that is already in the member's household database will be completely cleared before the new information is pulled from the credit report.

• If you have recently pulled a credit report but the system found no debt records to pull in (i.e., there were no debts, or all were closed/inactive tradelines), you may see the checkmark removed from the Fill Debt field and added to the Pull credit report for field instead. This is because the system did not find any debts to fill in, but cannot determine why there are no records. Assuming the credit report is dated after August 12, 2002, simply use Skip (F8) to continue.

• Only active tradelines will be used from the credit report. “Active” is defined as those tradelines that have a balance, are not at a closed status, or have had activity in the last six months. These rules do not apply to open revolving lines of credit, however.

• Tradelines are pulled in order by last reported date, with the most current coming in first.