Certificate Product Configuration - CD Type (1)
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Screen ID: Screen Title: Panel Number: |
USCD-04 Certificate of Deposit Maintenance 3952 |
This screen appears when you chooseCertificate Type on the initialCertificate Product Configuration screen.
SEE ALSO: Printing CD Product Configuration Information
CD Type codes define the specifics for how certificate accounts should be created and processed, including minimum and maximum amounts, penalty settings, G/L accounts, forms, and other features.
Enter any 2-digit alpha-numeric code and use Enter to proceed to the next screen.
CU*TIP: If possible, it works well to use a numeric code that matches the term of the CD (i.e., 06 for a 6-month term, 12 for a 12-month term, etc.). This makes it easier for staff to remember the most used. However when you get to IRA CDs and others with the same terms, you cannot reuse the same code. In that case, start using codes in the 50s or 60s. This allows for growth if you begin offering another special CD in the future, while allowing you to maintain a logical sequence of terms and separate your regular from your IRA CDs.