Membership Designation Configuration (2)

Description

Enter the membership designation or category here, such as “Corporation” or “Trust Account.”

Check one or both of the following to control which types of membership records can be flagged with this membership designation code:

Individual (MI) - Check this to allow individual membership records to be labeled with this designation. Remember that individual (MI) records use a First, Middle, Last, format for the name, and have a birthdate field.

Organization (MO) - Check this to allow organization membership records to be labeled with this designation. Remember that organizational (MO) records use a single name field, and have a charter date field.

Keep in mind that MI and MO type records are still separated on various membership analysis reports.

Enter the label that should be displayed next to the primary member's name on various CU*BASE inquiry and maintenance screens. For example, on a trust account, the label for the primary member might be “Trust Name.”

This is helpful for some types of memberships, such as Custodial memberships where the primary member is under age, or Representative Payee memberships, where the joint owner is the only person actually authorized to manage money for the primary member.

If this box is checked, primary owners names will not be presented (and therefore cannot be selected) on the Choose an Owner window in teller posting.  This window appears for credit unions using the Currently Serving feature that allows you to serve the person in front of you. Because this means that the primary cannot be served, it is important that credit unions using this feature turn on the Currently Serving feature.

This is also used in Xpress Teller when presenting secondary names to select on the Who Are You Serving screen.

• NOTE: You may not check this box for both the primary name and joint owner.'

• Warning: If you check this box and there is no joint owner on the account, a warning message will appear when the teller tries to access the account indicating that it cannot be accessed since their are no joint owners on the account.

Enter the label that should be displayed next to any joint owner name(s) on various CU*BASE inquiry and maintenance screens. For example, on a trust account, the label for a joint owner might be “Trustee.”

• Remember that the joint owner record itself will be coded with a “J” to differentiate it from “B” Beneficiary or "M" Misc. Owner record in the SECNAMES table. In other words, all secondary names are stored in the file the same way, regardless of the label that is displayed on CU*BASE screens.

If this box is checked, joint owners names will not be presented (and therefore cannot be selected) on the Choose an Owner window in teller posting.  This window appears for credit unions using the Currently Serving feature that allows you to serve the person in front of you.

This is also used in Xpress Teller when presenting secondary names to select on the Who Are You Serving screen.

• NOTE: You may not check this box for both the primary name and joint owner.

Enter the label that should be displayed next to any miscellaneous owner name(s) on various CU*BASE inquiry and maintenance screens. Examples include "Benef Owner" for organizations subject to those BSA rules, or "POD" for payable on death or "POA" for power or attorney, etc.

• Remember that the misc. owner record itself will be coded with a “M” to differentiate it from “B” Beneficiary or "J" Joint Owner record in the SECNAMES table. In other words, all secondary names are stored in the file the same way, regardless of the label that is displayed on CU*BASE screens.

• Also remember that each membership designation code can have only one misc. owner label for ALL owners of that type attached to the membership.  In other words, you can't have a membership that has both beneficial owners and PODs at the same time.

This box is checked by default and cannot be changed.  This means that misc. owners will not be presented (and therefore cannot be selected) on the Choose an Owner window in teller posting.  This window appears for credit unions using the Currently Serving feature that allows you to serve the person in front of you.

This is also used in Xpress Teller when presenting secondary names to select on the Who Are You Serving screen.

For example, on membership account 1234 there are 5 sub-accounts:

1234-000   No secondary owners

1234-001   Susan is a J-type owner

1234-002   Susan is a J-type owner

1234-110   Susan is an M-type owner

1234-220   No secondary owners

When Susan visits the credit union and the teller picks her name from the Choose an Owner window, the screen would display balances and withdrawal fields on these sub-accounts only:

-001

-002

Enter the label that should be displayed next to the Primary Owner/Joint Owner/Misc. Owner/DBA name field on various CU*BASE inquiry and maintenance screens.

This would allow you to use the field for something other than a DBA name, where appropriate for that membership designation.  Just remember that if you elect to print DBA names on correspondence, this would replace the member's name in most cases.

If this box is checked, the member's DBA name will appear on printed materials including printed member statements, envelopes, certificate laser forms, miscellaneous member account forms, notices, denial notice forms and member replacement checks. The DBA will print in place of the member’s or organization’s name, since in most instances there is only room for one line of text.

Credit unions can now choose to deactivate Reg E Opt In/Opt Out functionality for memberships with specific Membership Designation codes, such as businesses. If the new Exempt from Reg E. Opt In/Out Requirements box is checked all new memberships with this Designation (and accounts for that membership) will automatically be set to “Opt In.”  Employees will not even see the Opt In/Opt Out checkboxes at the bottom of the screen.  (Existing memberships will need to be manually maintained first before changing an existing designation.)

Employees will also not be able to change any affected memberships or accounts to “Opt Out” since access points to change the status (via Phone Operator, Membership Update, Inquiry and Phone Operator) will be either removed or blocked. On affected accounts, messaging reading, “This membership is exempt from Reg E Requirements.” will appear on the screen to alert your employees of this status.

The exemption also blocks members’ ability to change their “Opt In/Opt Out” status online. Members with an exempted membership will not see the “My Overdraft Services” tab in the “Preferences” section of It’s Me 247.

Refer to the booklet Opt In/Opt Out (Reg E) – Managing Your Offering for more details.

If checked, members of this designation can "hide the base share account/hide the 000 account" and are not required to use the 000 account for par value.  If this is used it will not be checked in any channel for employees or members, unless the balance is other than zero. This includes online banking and statements.  This feature must first be activated for the credit union in the Credit Union Master Parameters.

How do I access the OFAC Tracker, or for that matter any Tracker, when the membership's base share account (000 account) is hidden?

Select from individual CC statements only and Summary CC statements only.

When monthly credit card statements are produced, if Summary CC statements only is selected, that member’s statement envelope would include their normal account statement (if applicable) and a single, multi-page summary statement that lists each individual credit card loan suffix and its transactions in a separate section

Indicate whether to use Standard (single login) or Business (multi-login) online banking. Standard indicates that It's Me 247 will be used by the membership. 

Business indicates that BizLink 247 Online Banking will be used for memberships with this designation.

• NOTE:  Special setup is required to use business banking (BizLink 247).  Contact Earnings Edge for more information.

• NOTE: There is also a Business (single login).  This is for a future product that is not currently available. WARNING: Do not select this option. It will change the setting in the system; however, since no product is currently available, members associated with this membership designation will be blocked from online banking.  A warning will appear if this is selected.

• If you change the designation on a membership to business multi-login, you must first unenroll from bill pay and P2P (person to person transfers).