Certificate Product Configuration

Screen ID: 

Screen Title: 

Panel Number:

USCD-01

Certificate of Deposit Maintenance

6860

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Access this screen by selecting Tool #194: Certificate Products Configuration.(update) and Tool #1194: Certificate Products Config Inquiry (inquiry).

SEE ALSO: Printing CD Product Configuration Information

This is the first of several screens used to define certificate products that will be offered to members and opened as accounts in CU*BASE. Choose one of the available options and use Enter to proceed to the next screen.

  • ApplicationType - The CD Application is a code that allows you to categorize the basic behavior of all the different individual certificate accounts your credit union offers (CD Types). CD Application codes control dividend calculation and payment parameters as well as AIRES and other general settings.

    • Do not confuse this with the Application Type code that is used to distinguish between share, certificate and loan products. All certificates (even IRA CDs) are consider Application Type CD automatically, regardless of how they are configured.

  • Certificate Type - A CD Type represents the individual certificate product that you sell to your members and use to open accounts on CU*BASE. CD Type codes control term, rate, G/L interface, and tax reporting parameters as well as other settings unique to each individual certificate you offer.

  • Payment/Transfer Codes - These codes control the dividend payment frequency options that are allowed for your certificates. These codes are required to complete both the CD Application and CD Type screens, so they are generally created first.

    • These frequency codes are separate from the codes configured using the System Frequency Control/Config. feature. The codes configured here are used only by certificate processing.