Printed Statement Styles Available to Members

Screen ID: 

Screen Title: 

 

Panel Number:

images\kb_closed_shg.gif

UPSTMT-01

Printed Statement Styles Available to

Members

4254

Click here to magnify

 

Access this screen by selecting Tool #271: Configure Printed Statement Styles.

For more information access the booklet: Member Selected Statement Styles.

View Commonly Asked Questions

View Field Descriptions with Advice for Setting Up Your Program

Use Statement Styles to drive greater e-Statement enrollment at your credit union! Traditionally members have selected between eStatements and paper statements with no real pricing variations to consider, other than some indirect pricing. Member Selected Statement Styles drive the idea of statements having value by adding the ability for the member to choose a personal paper option, as well as the concept of “paper statements for a fee” (with e-Statement eventually maybe becoming the only free option). Credit unions can begin by introducing the new statement designs (for example the Large Print design) and not charge for their regular statement. From this foundation they can expand to charge for all paper statements, driving members to the free e-Statement option.

 

On this configuration screen you will view Printed Statement Styles offered by your credit union’s statement vendor. Select which statement styles your credit union will offer (including the Large Print Style). You can also assign a fee to the style - with standard age/balance and Tiered Service waivers available. Also use this screen to enter your transaction description and to assign a Fee income G/L and select a Dividend Application of the member to be charged the fee. Press Enter to type marketing text instructing employees on how to market this style to members.  When you are ready to activate the feature, even if you are only using it to charge a fee for statements, check "Activate printed statement styles/fees."  Once activated, employees can select a style for an individual member via Member Personal Banker.

View the field descriptions for more advice on activating your program.

This screen is also used to activate this feature for online members. When “Allow members to choose style for printed statements is checked, members who are not already enrolled in e-Statements will view a My Printed Statement options page in the Preferences section of online banking. The online banking page will also promote e-Statements to the member. Members already enrolled in e-Statements will not see this page. Press Enter from this screen to compose the online printed statement styles introductory message.

Commonly Asked Questions for Printed Statement Styles

These FAQs and more information on statement styles is also included in the booklet: Member Selected Statement Styles.

How Does this Affect a Member’s e-Statement?

These styles are Printed Statement Styles and have no effect whatsoever on a member’s e-Statement. In fact, if you activate this feature at your credit union and allow members to select their Printed Statement Style online, members already enrolled in e-Statements will not be presented the selection page.

Can I Charge All My Members Who Receive a Paper Statement a Fee?

This feature can be used to charge a fee to all members receiving a paper statement, even if Sage Direct is not your print vendor. When you activate the Member Selected Statement Style feature, assign a fee to your default style. (You can even select that the fee account balance can go negative or below the available balance to pay this fee.)  When statements are printed, members without an assigned style will receive a statement with this default style and will be charged a fee. Additional styles can also be configured so that members can also select them.  When you are ready to activate the feature, even if you are only using it to charge a fee for statements, check "Activate printed statement styles/fees."

When are Members Charged a Fee for Printed Statement Styles?

Statement style fees are posted to members by the fifth day of the month.  Members are charged fees during months when they receive a regular account statement.  If a member only receives a credit card statement, the member is not charged a statement fee that month. (If the next month the member receives both a credit card statement and a regular statement, the member is then charged a fee.) 

Online clients, your Operations staff will take the step to charge the statement fees.  This is separate from statement generation. Before activating the feature, contact Client Services to ensure that the date of the last fee posting will not cause a conflict with the new fee activation. 

self-processors, you will need to charge the fee.  Refer to Member Selected Statement Styles.

Where Can I Review Statement Style Fees that my Credit Union Charges?

The Printed Statement Fee Transaction Register (PESTMTN3) shows a listing of members charged a fee for statement styles. The Printed Stmt Fee Exceptions Report (PESTMTN3X) lists the exceptions, for example, the member did not have an account of the dividend application type selected in the configuration to be charged the fee.

What Vendors Support Member Selected Printed Statement Styles?

Member Selected Statement Printed Styles was first configured for credit unions who use Sage Direct as their statement processor. View printed styles for Sage Direct Clients.

The Member Selected Statement Style feature, however, has been designed for expansion and use with other statement processors. CU*BASE will provide the data in a flat file, but will not provide designed statement files.  The statement vendor is responsible for the programming of the styles. 

Contact a Client Services Representative if your statement processor is interested in developing its own printed statement styles for use with CU*BASE.

Can I Use Statement Style to Charge All My Members Who Receive a Paper Statement a Fee?  (Even if Sage Direct is Not My Statement Print Vendor?)

This feature can be used to charge a fee to all members receiving a paper statement, even if Sage Direct is not your print vendor.  When you activate the Member Selected Statement Style feature, assign a fee to your default style.  When statements are printed, members without an assigned style will receive a statement with this default style and will be charged a fee.  Additional styles can also be configured so that members can also select them.  Important:  When you are ready to activate the feature, check "Activate printed statement styles/fees" in this configuration.  Checking this box is necessary even if you only use this feature to charge a fee for statements.

What Do I Do if I Want to Use a Custom Style with this Feature?

Customized styles, for example a different theme than those covered in this booklet, can be accommodated using the Member Selected Statement Styles feature.  That way the style can be selected when configuring the feature, and members can also select the style online.  Refer to the “Initiating a Special Project" website for more details on submitting a request for special development work.  A quote with the charges for these changes will be quoted at that time.  (Additional changes may be charged by your statement provider. ) 

Options for Receiving the Fee

Option 1: Charge all accounts of a Dividend Application and then the base share account

Select "Single div appl" and then use Enter (twice if needed) to reveal a lookup to select a Dividend Application to charge a fee.

With this option you select “Single div appl” for the “Charge fee to selection.”  Then you use the lookup to access a screen where you designate the Dividend Application on this screen which will be used to charge the fee. With this option all sub-accounts of this Dividend Application will be reviewed for the full amount of the fee, starting with the sub account with the lowest number (101, then 102, for example).  If all sub-accounts of the selected Dividend Application are reviewed and do not supply the fee, then the base share account (000) is used to supply the fee.  No partial fee collection is allowed.  The statement style configuration has settings that allow that allow the fee to take the account “below available balance,” “below negative balance,” and “post to frozen account.”  These may be used to collect a full fee amount, but this is not required,  NOTE:  If no sub account supplies the fee, this will appear as an exception on the Exception Fee Posting Report (PESTMTN3X).

Option 2: Chase the Money

Select "Chase the money" and then use Enter (twice if needed) to reveal a Priority button that allows you to access this screen to prioritize the Dividend Applications used to charge the fee.

By selecting this option, your credit union has determined that it would like to be more proactive in receiving the fee from the member and would like to use account from multiple Dividend Applications to select the fee. With this option you select “Chase the Money” for the “Charge fee to” selection and use Enter (twice if needed) to replace the lookup with a “Priority” button.  Then click the “Priority” button to access this screen to select the Dividend Applications you would like to use to collect the fee.  You are prioritize by dividend application what account to charge.  If account #1 does not have available funds, account #2 is used, then account #3, etc.   When you click the “Priority” button a window you will be presented all of your Dividend Applications (including suspended ones). By using the “Priority” option you will then prioritize the Dividend Applications you would like CU*BASE use to look for the fee. To indicate the priority, select the Dividend Application, and “Priority.”  A window will appear allowing you to select the Priority of the Dividend Applications.  Simply enter your Priority number.  Then use Enter. Repeat the process until all Dividend Applications are prioritized.  The numbers do not need to be 1, 2, 3, but instead need to be sequential.  Then use Enter to save the changes.  If you want the base share account to be charged the fee, then you must prioritize this Dividend.  One option would be to prioritize it as 99 as shown in the previous example.

Once configured all accounts of the selected Dividend Application will be checked for the fee before CU*BASE will move to accounts of the next prioritized Dividend Application.  CU*BASE will look in all accounts of a selected Dividend Application before moving to the next.  All sub accounts of this Dividend Application will be reviewed for the full amount of the fee, starting with the sub account with the lowest number (101, then 102, for example). As with the other fee option, no partial fee collection is allowed.  Unlike the other fee option, there are specific settings that must be set up to collect the fee.  The “chase the money” option is set up to really get your money, and it must be set up with these conditions: your statement fee must be configured to take the account below the available balance (but not negative) and to post to a frozen account. NOTE:  If no sub account supplies the fee, this will appear as an exception on the Exception Fee Posting Report (PESTMTN3X).

Field Descriptions

Field

Explanation

Activate printed statement styles/fees

Checking this box activates statement styles.  You must check this box to activate the feature.  (You must check "Show in online banking" (below) for them to be able to make a selection online.) 

Important:  When you are ready to activate the feature, check "Activate printed statement styles/fees."  Checking this box is necessary even if you only use this feature to charge a fee for statements.

  • If your credit union wants to begin charging members immediately, enter a charge for the Default (Def) Style. When statements are printed, members who have not selected a style will receive the default style. (If the credit union fails to assign a style as the default, the style that is usual for the credit union will be used instead.

Show in online banking

Check if you want your members who are not already enrolled in e-Statements to be able to select a style online. These members will see a “My Printed Statement Options” page in the Preferences area of online banking, which will allow them to select their style. These members will also be encouraged to enroll in e-Statements.

Corp ID

Enter a Corp ID, if needed.

Fee income G/L

Enter the G/L used for fee income.

Fee transaction description

Enter a description that will appear on statement for the fee transaction.

Charge fees to

A much longer discussion on this field selection is available before the field descriptions

Option 1: Select “Charge single div appl

Select Charge single div appl and use Enter (twice if needed) to reveal a lookup to select a Dividend Application to charge a fee.

On that screen, designate the Dividend Application which will be used to charge the fee.  All sub-accounts of this Dividend Application will be reviewed for the full amount of the fee, starting with the sub account with the lowest number (101, then 102, for example).  If all sub-accounts of the selected Dividend Application are reviewed and do not supply the fee, then the base share account (000) is used to supply the fee.

No partial fee collection is allowed.  The statement style configuration has settings that allow that allow the fee to take the account “below available balance” and “below negative balance.”  These may be used to collect a full fee amount, but this is not required.

Option 2:  Chase the money

Select Chase the money and use Enter (twice if needed) to reveal a Priority button.  Click the button to access this screen that will be used to prioritize Dividend Applications used to charge a fee.

This selection (covered in detail right before the Field Description section) allows you to prioritize by dividend application what account to charge.  If account #1 does not have available funds, account #2 is used, then account #3, etc.  All sub-accounts of this Dividend Application will be reviewed for the full amount of the fee, starting with the sub account with the lowest number (101, then 102, for example).  If all sub-accounts of the selected Dividend Application are reviewed and do not supply the fee, then the base share account (000) will not be used to supply the fee unless it is prioritized to (by selecting it as 99 for example.)

No partial fee collection is allowed.  Your statement fee must be configured to take the account below the available balance (but not negative) and to post to a frozen account.  (This is a requirement for the chase the money feature.)

  • NOTE:  If no sub account supplies the fee, this will appear as an exception on the Exception Fee Posting Report (PESTMTN3X).

Fee waivers The fee will be waived based on the following standard fee waivers. NOTE: A Tiered Service waiver also allows credit unions to waive the fee.

Low Age

Member’s age is at or below a certain age

High age

Member’s age is at or above a certain age

Allow below available balance

Check this box to allow the statement fee to bring the fee account below the available balance.

Allow negative balance

Check this box to allow the statement fee to bring the fee account to a negative balance.

Post to frozen account

Check this box to allow the statement fee to post to a frozen account.

Waive if present

If you wish to waive the fee for members who have certain types of accounts or cards, place a check mark in one or more of these fields.

  • ATM card - Waiver for ATM card. For online ATM card, card must be in active status (not, for example hot carded) for fee to be waived.  For Off Trial Balance (OTB) ATM card, waives if a card is present, regardless of status.

  • Debit card - Waiver for debit card. For online debit card, card must be in active status (not, for example hot carded) for fee to be waived.  For Off Trial Balance (OTB) debit card, waives if a card is present, regardless of status.

  • Credit card - Waiver of fee for credit cards.  For online credit card, the loan must have a Process Type of V (credit card) with a status of Active (A) and not be written off (WRTOFF of 0) for fee to be waived.  For Off Trial Balance (OTB) credit card, waives if a card is present, regardless of status or balance.

  • OTB savings acct - Waives fee if member has Off Trial Balance (OTB) savings account, regardless of status or balance.

  • OTB loan acct - Waives fee if member has Off Trial Balance (OTB) loan account, regardless of status or balance. 

Waive if aggregate share balance is equal to or over

Aggregate current balances of member’s selected MEMBER1 accounts are equal to or above a certain amount (includes tax escrow and IRA accounts).  (Select which application types apply.)

Waive if aggregate loan balance is equal to or over

Aggregate current balances of selected member’s MEMBER5 and MEMBER6 accounts are equal to or above a certain amount (includes loans and open-credit accounts).  (Select which types apply.)

Waive if aggregate combined aggregate balance is equal to or over

Aggregate current balances of selected member’s MEMBER 1 and MEMBER5 and MEMBER6 accounts are equal to or above a certain amount (See above).  (Select which types apply.)

Field Descriptions in the Table

Avail

Check this to allow members to select this Style in Member Personal Banker. Online selection is allowed only when “Show in online banking” is also checked.

Def

This indicates that this style is the default style. When statements are generated, any member who does not have a selected Printed Statement Style will receive this default style. Credit unions can select for the Def Style to be the Standard Style or any of the other available styles. If a credit union wants to charge all members a fee for their statement, the credit union must select a Default style.

  • NOTE: Credit unions who do not use Sage Direct as a print vendor or who have a custom style can use this feature to charge a fee to all members receiving a printed statement. In this case, the credit union must select Style 99 as the default and assign a fee to this style.

Fee Amt

Enter the fee for this style. Members will be charged this fee when a standard statement is printed. (If a member only receives a credit card statement, for example with an account will a quarterly statement, the member will not be charged the fee.)

  • NOTE:  Partial fees will not be charged; however, the fee can take the member below their available balance (but not negative).  What this means is that even if your credit union has a $5 par, if the member only has $5 in his or her base share, CU*BASE will still deduct the fee from this account.

 

 

Link to ID: https://help.cubase.org/cubase/cubase.htm#UPSTMT-01.htm