Updating Account Information – Certificate

Screen ID: 

Screen Title: 

Panel Number:

images\kb_closed_shg.gif

UMEMB-04

Account Information Update

2451


Click here to magnify

Helpful Resources

Visit Show Me the Steps for easy instructions on how to use CU*BASE for steps if a member declares bankruptcy.

How can I change the open reason code stored on an active membership or account?

Screen Overview

This screen is used to update the detailed information recorded for a member certificate account.

Custom Fields

Using custom fields your credit union can create and maintain unlimited custom fields that are unique to your credit union. You define the field name as well as the rules that control what data can be entered:  dollar amounts, quantity, percentage, text, yes/no checkbox, date, or a defined list (the selections of which you will also define) on the account custom data configuration screen, then input the data and view it in the Account Update screens (such as this screen) and viewed in Account Inquiry screens.  Learn more about Custom Data Fields.

Integration between CU*BASE and Your Imaging Solution

This screen has a link to your imaging solution to further integrate with CU*BASE.  The “Scan e-Document” button is used for scanning a document into your imaging solution.  The “View e-Document” button is for retrieving images from your imaging solution.

Field Descriptions

Fields in blue text require that your employee ID has Maintenance Tier 2 special security in order to update the fields.

Field Name

Description

SSN/TIN

The member's Social Security or other Tax ID number.

Last maintenance date

The last date on which this account information was maintained.

Current balance

The current balance in the account.

Account opened by MSR

The Employee ID of the employee who actually opened the account. (Will be blank for accounts opened before June 16, 2003.)

First Column

Application

A code indicating the CD Application type, which controls basic parameters about how the account should behave.

CD type

The code indicating the type of certificate.

Plan

For IRA Certificates only. The code indicating the IRA Plan Type associated with this account.

  • NOTE: On an IRA certificate the system will allow you to change this setting to a different plan type (such as if the wrong type was designated when the account was opened).

HSA

For HSA certificates only. The code for the HSA type this member owns:  S=Single, F=Family.  This code cannot be changed here.  (Use Tool #893 Update HSA Balance Information to change this setting.)

G/L account

The G/L offset account for this account type.

Jt. Owner 1
Jt. Owner 2

These fields will show the joint owner names that are flagged to print on correspondence (although you can have unlimited joint owners on file, only two of them can print on correspondence such as statements).

# of secondary names

This field shows the total number of secondary names (joint owners, misc. owners, and beneficiaries) on the account. Use Secondary Names to view/change these names.

Original purchase date

The date when this certificate was created.

  • NOTE:  When this field is edited, the date entered must be on or later that the open date of the membership.  If this date cannot be changed, then the open date of the membership must be changed to be on or earlier than the date you wish to use in this field.

Last renew/roll

The date on which the certificate account last renewed to begin the current term.

Current term mature

The date on which the certificate matures. If the account is set to automatically roll, this also represents the rollover date for the current term.

Dividend paid date

The last date on which dividends were paid to the member.

Dividend transfer date

The last date on which dividends were transferred to the member.

Dividend accrual date

The last date on which dividend accruals were calculated by the system.

Div disburse code

This code indicates how dividends should be paid to the member.

0=Transfer Dividends are paid directly into a member's account.

1=Addback Dividends are added directly back into the CD.

2=Check Dividends are paid to the member by check. If this option is selected, F22-Div Chk Pay To can be used to change the Pay To and address information used for these dividend checks (if desired by the member).

3=On Demand Dividends are paid to the member upon request.

Div transfer frequency

A code indicating the frequency of dividend payments. Frequency codes are credit union-configured.

Dividend transfer

If dividends are transferred to another account, the account number used is shown here (base and suffix).

Allow princ distrib

Indicates whether pricipal distributions are: A (Allowed), R (Required) or N (Blocked).

Renewal Code

Indicates how the certificate will be handled upon maturity. If a principal distribution amount is entered, only transfer or check can be selected.

0=Manual - Upon maturity, do not renew the certificate, and wait for the member to indicate how the account should be handled. The certificate account will remain in place and will accrue dividends as shown in the Rate After Mature field on the certificate account record. If there is no rate in this field on the account record, the system will automatically insert the rate from your credit union's base Share Dividend Application (usually “SH”).

1=Auto Renew - Upon maturity, automatically renew the CD, using the settings in the Renewal CD Type and Part Renew Amt fields. Renewal incentives will be applied at that time.

2=Transfer - Upon maturity, transfer the entire CD balance into the account shown in the Trfs/Rdmpt field.

3=Check - Upon maturity, transfer the entire CD balance into a check made payable to the member. The check will be generated and will await printing via the Automated/Mail Check printing system.

Trnsfr/rdmpt/princ dist account

The account where funds will be placed that are not being rolled into a renewed CD (calculated from the Part Renew Amt field and using the Auto Renewal ID setting).

This field is also used to determine the account to which principal distributions should be transferred. SEE ALSO: Principal Distributions

Principal dist amount

The principal distribution amount the member is to receive each payment period. (This amount comes from the MEMBER3 file.) SEE ALSO: Principal Distributions

Freeze

Use one of the freeze codes to define transaction restrictions for this account. The system indicates whether or not an account is frozen in the teller posting and inquiry systems.

Click here for a list of freeze codes.

Passbook process ID

This field indicates whether or not the account is a Passbook printer account (0=No, 1=Yes).

Statement Indicator

Not currently used.

Second Column

CD branch #

The branch number associated with this certificate, for credit unions which use branch level accounting.

Renewal CD type

Indicates the type of CD that should be created upon renewal. The system uses this code, not the renewal CD type from the product configuration, to handle this specific account.  (Changing that configuration will not alter this setting on this CD.)

  • NOTE: If this is an IRA certificate, the system will not allow you to enter a non-IRA CD type, and vice versa. The same is true for an HSA certificate; renewals must be to another HSA product.

CD penalty code

This code indicates how penalties will be calculated on early withdrawals from this CD:

L Either the calculated penalty or the total earned dividends will be used as the penalty amount, whichever is lower.

(blank) The standard calculated penalty amount will be used, regardless of the earned dividend amount.

G Either the calculated penalty or the total earned dividends will be used as the penalty amount, whichever is greater.

Any invalid code means that the greater of the two amounts will be used.

For example, say that a CD has only been open for 30 days. The dividends earned are for that 30-day period only. Since the normal penalty is calculated based on 90 days, the “L” code means that only the 30-day penalty will be incurred.

CD penalty days

This is the total number of days used to calculate penalties. For example, if this field is set to 90 days, the penalty for early withdrawal on this CD is calculated as 90 days' worth of dividends.

Term dividend paid

The total amount of dividends paid over the life of the certificate.

Term dividend W/D

The total amount of dividends withdrawn over the life of the certificate.

Total deposit

The total amount of deposits made into the CD account, for certificate types which allow additional deposits.

Part renew amount

If automatic renewal has been set up in the Auto Renewal ID field, this field indicates the total amount which will be rolled into the new CD upon renewal. If no amount has been entered, the entire CD payout amount will be rolled into the renewal CD.

  • If an amount is entered into this field, a partial renewal may be done. Any remaining funds not rolled into the new CD will be placed in the Trsf/Rdmpt account number listed on this screen.

Dividend accrued

The total amount of dividends accrued on this account.

Dividend paid Q1
Q2
Q3
Q4

These fields indicate paid YTD dividends for each calendar quarter.

Last roll balance

The balance as of the last time this certificate was renewed.

Original purchase amt

The original amount used to open the certificate.

Annual B/U withheld

If the member is subject to dividend withholding, this field shows the amount withheld from this account year-to-date.

Penalty amount

This field shows the total of all penalties incurred on early withdrawals made from this certificate during the current year. This amount is used for tax reporting and is cleared automatically during beginning-of-year processing each year.

Secured balance

The total amount of funds in this account which are pledged as security on a loan (Pledged Shares) or other Miscellaneous Secured Funds records.

  • BE CAREFUL: This figure comes from the Pledged Shares and/or Misc. Secured Funds detail records, and cannot be changed to a total that does not match those records. Instead, use the Update Misc. Secured Funds feature or the Pledged Shares option (Update Misc. Loan Information) to modify or delete the secured record.

  • SEE ALSO: Changing Secured Balance

Accrued club benefits

This fields shows Marketing Club benefits that have been accrued but not yet paid to this account.

YTD club benefits

This field shows all Marketing Club benefits that have been paid to this account year-to-date.

Third Column

Dividend calc type

A code indicating how the CD dividends are calculated. Valid codes are as follows:

A Dividends compounded on the CD balance plus accrued daily dividends

C Dividends computed on the current CD balance

S Dividends computed on original CD amount (face value) only

Dividend payment freq

A code indicating the frequency of dividend payments. Frequency codes are credit union-configured.

Dividend payment type

This field indicates whether dividends for this CD are paid monthly based on the issue date, or the calendar month.

I Payment is based on the date of issue (i.e., if date of issue was the 15th, dividends are paid each month on the 15th).

F Payment is based on the first day of the calendar month (i.e., dividends are paid on the 1st of the month regardless of the date of issue).

E Payment is based on the last day of the calendar month (i.e., dividends are paid on the last day of the month regardless of the date of issue).

  • Remember that payment frequency may vary according to the setting in the Dividend Payment Freq field. Therefore, if dividends are paid quarterly and the Divd. Payment Type code is set to “E,” dividends will be paid on the last day of the quarter.

Current dividend rate

The dividend rate earned by the certificate.

Rate after maturity

The dividend rate to be earned by the certificate after maturity, if automatic renewal instructions have not been set up.

Variable rate group

This code, configured by the credit union, indicates the type of variable rate, if any, used by this certificate.

Original dividend rate

The original rate used when the CD was created. For variable rate certificates only, this may be different from the current rate.

Renewal incentive

The incentive rate, if any, granted upon automatic renewal of the CD. This rate will be added to the current rate shown on the CD product at the time of the renewal.

Rate bumped X of X times

The first number indicates the number of times this certificate’s rate has “bumped” to a more advantageous rate by the member during the term of the certificate. The second number indicates the maximum allowed “bumps.”

SEE ALSO: Bump Rate Certificates

Specify Div Checks Pay to Address

If Dividends or principal distributions will be paid to the member by check. (These checks are printed using the Print Auto/Mail Checks feature, click the Specify Dividend Checks Pay To/Address button (or F22) to specify the Pay To and address information used for these dividend or principal distribution checks.

 

 

Link to ID: https://help.cubase.org/cubase/cubase.htm#UMEMB-04.htm