Product Category Configuration Selection List
Access this screen by selecting Tool #470: Loan Product Configuration.
Learn how to write off an OTB loan.
Looking for some recommendations on your big picture planning for your loan configuration? Refer to the Big Picture Planning for Your Loan Configurations overview.
Special Note regarding Online Credit Card Loan Products: For information about the unique configuration features for CU*BASE online credit card loans, refer to the Online Credit Card Processing Configuration Guide.
This is the first of several screens used to build loan product codes for use in selling loans to members. Products created here are used by the CU*BASE Rate Inquiry feature, in the Loan Quoter, in normal Loan Request Processing, and even via external delivery channels such as the It's Me 247 online banking Loan Rate Board or a third-party website. Up to 999 loan products can be configured per corporation.
A Loan Product is a specific type of loan offered to members, and is the key mechanism for how your credit union sells loan products to your members. The Loan Category is the CU*BASE configuration that governs how the loan is serviced (payment and interest calculations, payment matrix, G/L accounts, etc.). Examples of loan products include your credit union's used car loan offering, new car loan, RV loan, etc.—these products could all be tied to the same generic “closed-end” or “vehicle loan” category.
NOT SEEING THE LOAN PRODUCTS YOU EXPECT IN THE LIST?
Please note that all columns can be sorted by clicking on the header row.
If you have previously selected a Product code, this is saved in the Search Options section on this screen. This holds your position in the listing so you can easily re-enter the product to make additional changes or make changes to another product appearing sequentially on the list. To reset the list, clear the Product code and press Enter.
To locate a particular product quickly, use the Search Options at the top of the screen:
Enter a Product code and use Enter to advance down the list to that item in the list. If you have previously selected a Product code, this is saved in the Search Options section on this screen. This holds your position in the listing so you can easily re-enter the product to make additional changes or make changes to another product appearing sequentially on the list. To reset the list, clear the Product code and press Enter.
Enter text in the "Search for Product" field and use Enter. The list will be alphabetized by description and then automatically to scroll to the first item that starts with those letters.
Use the Display Options to change the list at the bottom of the screen to display only products with certain characteristics. This is designed to help you organize and verify your products by displaying configured codes in logical groups.
Enter a loan category code to display all products that have been tied to that category. For example, if you have a single loan category that you use for all of your auto and related vehicle loans, enter that category and the list will show all products tied to that category, so you can make sure you have all the product codes you need. Click the lookup button to see a list of your credit union's configured category codes.
Choose a Delivery channel code to display only products that will appear in certain delivery channels. (In this context, “Delivery channel” refers to a general location where loan products are displayed. All external delivery channels other than online banking will be grouped together.) Learn more about the options you may select from.
To create a new loan product, use Add Product (F6). A window will appear first to allow you to enter a product code (the next available number in sequence will be entered automatically but it can be changed).
To modify an existing product, select the product in the list and use Change.
To create a new product that uses the same settings as another, existing product (including marketing tips and procedures, amortization defaults, checklist, etc.), select the product you wish to copy in the list and use the Copy option. A new product number will be assigned and the first configuration screen will appear so that you can adjust the settings for the new product.
To delete a product, select it in the list and use Delete. One confirmation window will appear. This will remove the product code immediately from the CU*BASE Rate Inquiry, Loan Quoter, and Loan Request Processing lists, as well as from online banking (if configured).
If the product is used for external delivery channels such as Dealertrack, you will be required to specify an alternate product code to use in its place.
To view product settings without changing anything, select the product in the list and use View.
To rearrange products by assigning new product codes, select the product in the list and use Reassign. A window will appear to allow you to enter the new 3-digit product code (must be an unused number 001-999) to be assigned to that product.
To view a historical listing of all the rate changes on the selected loan product, view a listing of the new rate, the effective date, the old rate and the ID of the employee who made the rate change, select a product and use Rate History.