Configure Loan Interest Rebate Program

Screen ID: 

Screen Title: 

Panel Number:

UBDIRCFG-02

Configure Loan Interest Rebate Program

4782

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Access by selecting "Loan Interest rebate (LNCATG)" on the Add a Program screen or by selecting a loan interest rebate program and Change or View on the initial Bonus Dividend/Loan Rebate Program screen.

Find Frequently Asked Question here.

Use this screen to configure or view a loan interest program.

Setting up a Loan Interest Rebate Program

  1. Enter the Program name in the entry screen. This will be used to identify the program on the entry screen.

  2. Enter a transaction description.  This description will appear in the transaction history in CU*BASE, as well as on members’ statements and in online banking.

  3. Select the loan products that apply toward this program by using the Select button.  A window will appear.  Hold down the Ctrl key as you select the appropriate loan categories.  Then use Select to return to the set up screen.

    • NOTE:  Suspended codes will appear in the listing.  Even if you are not opening new accounts with this code (and have therefore suspended it), you may wish to pay on an account previously opened with the code. 

    • If you would like to have a different bonus dividend for different loan categories, configure separate programs for each group of categories.

  4. Enter the percentage of the year to date dividends you wish to pay your members to three decimal places (for example 5.255).  Only year to date interest can be used.

  5. Select your exclusions. 

    • Check to exclude memberships with a base share par value.  The par value amount used is configured by the credit union, generally five dollars.

    • Check to exclude delinquent loans with loan categories included in this program.  This is different from the share bonus dividend programs.  A member could technically get this loan rebate if that member had a delinquent loan.  The delinquent loan would just need to have loan category not included in this particular loan rebate program.

    • By default, 999 will be entered, which will exclude all delinquent loans (of the loan categories selected.)  Optionally enter a number of days.  Memberships with qualifying loans delinquent thimany days or greater will be excluded.

    • Check to exclude memberships with written off loans.

  6. Press Enter to save the program and return to the program listing.