Membership Designation Configuration (2)

Screen ID: 

Screen Title: 

Panel Number:

images\kb_closed_shg.gif

UMDESG-02

Configure Membership Designations

3942


Click here to magnify

Access this screen by selecting a membership designation on the previous screen and Select.

Helpful Resources

Learn how to hide the base share account

Recommendations for setting up trust accounts

Recommendations on setting up custodial accounts

Recommendations on setting up representative payee accounts

Explain the differences between a joint owner and a miscellaneous owner.

Screen Overview

This screen is used to define the labels that will be used on various inquiry screens throughout CU*BASE where member and secondary names are displayed.

NOTE: The options that can be changed here for the default “MI - Individual” and “MO - Organization” codes are very limited, since those are the default system codes that are used when a credit union doesn’t assign one of the CU’s configured ones to an account.

When the field have been filled in, use Procedures (F21) to enter instructions, tips, and credit union procedures for working with these types of memberships. Remember that you will be able to pull in paragraphs from the master Talking points library so you don't have to write everything yourself!

Field Descriptions

Field Name

Description

Membership designation

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

Used for membership type(s)

 

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.

Label for primary name

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.”

Label for joint owner name

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.

Eliminate account access via Teller "Currently Serving"

 

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.

Label for Misc owner name

 

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.

Eliminate account access via Teller "Currently Serving"

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.

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

Label for DBA name

Enter the label that should be displayed next to the 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.

Print DBA name on correspondence

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.

Exempt from Reg E. opt in/out requirements

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.

Hide 000 base share account on all channels

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?

Online banking system to use

Indicate whether to use Standard or Business online banking.  Standard indicates that It's Me 247 Online Banking will be used for memberships with this designation.

  • NOTE:  Special setup is required to use business banking (It's My Biz 247).  Contact Earnings Edge for more information.

 

 

 

 

Link to ID: https://help.cubase.org/cubase/cubase.htm#UMDESG-02.htm