Minimum Balance Service Charge Configuration (2)
Screen ID: | USVCGE1-02 | |
Screen Title: |
Minimum Balance Service Charge Configuration |
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Panel ID: | 5398 | |
Tool Number: | 810 or 964 | |
Click here to magnify |
Access this screen by selecting an existing minimum balance service charge on the entry screen or when using "Add" (F6) from this screen.
This second screen is used to set the particulars of how and when the service charge should be posted to member accounts. Remember that this fee is charged on a monthly basis according to the history of the account during that month. Complete all fields (described below) and use Enter to save and return to the previous screen.
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NOTE: You are not charged for a service charge until "Activate this service charge program" is checked on this screen.
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IMPORTANT: CU*BASE service charge options are very flexible, and therefore should be discussed with a client service representative prior to implementation. We offer a service to configure and test the fee before the first posting, which generally occurs at month-end. For online clients there is a fee. Refer to the Pricing Guide for details. You are not charged a fee until the service charge is activated on this screen. For programs you are considering running, it is recommended that you first use the Audit feature which produces reports similar to the posting reports, but does not post any fees.
Field Descriptions
Field Name |
Description |
Application type |
(Input capable when adding or copying a new service charge) When adding a new service charge, use the lookup to access a screen where you select an application type of IR (IRA share products), SD (Share draft/checking products), or SH (Share/savings products). Only one can be selected. On existing service charges, this will be view-only. |
Dividend application |
(Input capable when adding a new service charge) After an Application Type is selected when adding a new service charge, use the lookup to access a screen where you select the Dividend Type that will be charged this fee. Only one can be selected. No selection means that all Dividend Applications are selected. The minimum balances for accounts of this/these Dividend application types will be used to determine if a fee is charged. On existing service charges, this will be view-only. |
Activate this service charge program |
Leave this box unchecked to test the service charge before it is implemented. This can be used in conjunction with the Run Audit feature on the previous screen to test as program before it is activated. This can also be unchecked to suspend a service charge without deleting it. If this box is unchecked, it will not post a fee to a member's account. Check this box to activate a service charge so it posts fees to member's accounts. If this box is checked, it will post fees to member's accounts during the normal posting programs. |
Generate notice event when posting to member |
Check this to generate a notice to be sent to the member when the fee is posted. The notice text cannot be changed and the exact text is covered in back section of the Member Notices: Configuring and Printing CU-Defined Notices and e-Notices booklet. |
Last maintained |
Last maintenance date and employee ID who did the maintenance. |
Fee Details Use these fields to define how the fee is charged. |
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Transaction description |
Enter a description to be used for the member fee transaction. |
Service charge amount |
Enter the fee amount to be charged to a member when this account falls below the Minimum Balance during the month. (This field has two decimal positions; enter 15 for 15 cents, or 100 for $1.00.) |
Service charge G/L |
The G/L number to be used for the total fee amounts generated by this service charge posting. |
Charge same account |
Use this to indicate from which account the fee itself should be taken. If checked, the fee will be pulled from this DIVAPL. If left unchecked, use the If not, charge Div Appl field below to charge the fee to a different dividend application (such as your base share DIVAPL). |
If not, charge Div Appl |
If Charge Same Account is unchecked, enter a valid DIVAPL code to indicate from which account the fee should be taken. The most common is SH for the base share DIVAPL, since all members are required to have at least that one account type. |
If funds not available, use Div Appl, then, then |
These fields can be used if you want the posting program to look for the fee in other accounts, should the normal fee account (either this account or the account specified in the If not, charge Div Appl field) not have sufficient funds. The system will first look for accounts with Dividend Application 1, then 2, then 3 and will pull the entire fee from the first account found that has sufficient funds. The fee will be charged only if the entire fee amount can be found in a single account (the program cannot pull portions of the fee from multiple accounts). NOTE: This feature has not been used extensively and therefore should be tested though running an audit first. |
Charge new accounts |
Use this to indicate whether accounts opened during the month should be included in that month's service charge posting. If unchecked, the system will waive that month's fee and begin charging the service charge the following month.
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Allow fee to take account below available balance |
Check this if you wish to allow the fee to be charged even if it will take an account below its Available Balance. Available Balance is calculated as Current Balance minus Secured Funds minus Uncollected Funds. For the base share account (suffix -000), Par Value is also subtracted. Leave it unchecked to honor secured and uncollected funds on the account. The fee will be charged only if the Available Balance on the account is high enough to cover the fee.
In either case, if the fee cannot be charged, the account will appear on the monthly service charge fee exception report and should be handled manually.
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Post fee to frozen accounts |
Check this box to indicate that a fee should be charged, even if the account has a freeze indicator that does not allow disbursements. |
Allow fee to take account balance negative |
Use this to indicate how the system should handle the fee if the account has insufficient funds to cover the fee amount. Check the box if the system should take the account balance negative in order to charge the fee. These accounts can be monitored using the Work Collections feature. Leave the box unchecked if the fee should not be charged when funds are not available. The account will listed on the monthly service charge exception report and must be handled manually.
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Post partial fee |
This allows a credit union to set up a fee that will take the member’s entire account balance down to the available balance of $0, depending on the selections above. This allows you to post a partial fee if the full fee amount is not available within the constraints of the selections above.
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Waive if member maintains a minimum balance (MMBAL) of at least |
Enter the minimum balance the program should use to determine whether or not the fee should be charged. (Enter dollars and cents.) If the member's monthly minimum balance falls below this amount, the fee will be charged.
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Update last transaction date for dormancy monitoring |
(Defaults to unchecked) Check if you wish to leave this account in dormancy status when the fee is charged. |
These fields can be used to waive the service charge according to the existence of any other account type for a member, regardless of the account balance.
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Honor waivers in Marketing Club config |
This refers to the fee waivers that can be configured in Marketing Club configuration (Fee Waivers and Benefits). If checked, the fee waivers configured there will be used when determining if a member is eligible for fees. If unchecked, the fee will be charged regardless of Marketing Club status.
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Exclude membership designations |
Use the Select button to reveal a screen. Here select a membership designation, or hold down the Ctrl key to select multiple items from this listing, then use Select to return to the previous screen. The fee is waived for members with these membership designations. |
Waive if accounts present |
Place a checkmark in one or more of the Application Type codes listed. If the member has at least one of any of these accounts, the fee will be waived.
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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.
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Waive if enrolled in eStatements |
Check this box to waive the fee for any members that are currently enrolled in eStatements. |
Age Waiver: Low Age/ High Age |
Use these fields to waive the service charge based on the member's age. Enter both a low and a high age. Only members whose age falls within this range as of the end of the month will be charged. Members younger than the low age or older than the high age will be exempt from the service charge.
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Use this section to waive the service charge based on a member's balances in other accounts. You may waive using a separate balance for shares and/or loans, or create a combined waiver that looks at both share and loan accounts for a combined aggregate total.
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Aggregate share balance Include |
To waive the service charge according to the total balance in all of the member's share accounts, use this field to enter the total aggregate balance to be used for the exemption. If the total of all share account types marked under Include equals or exceeds this amount at the end of the month, the member will not be charged the fee. Place a check in one or more of the Application Type codes listed to be used for the exemption. Balances in each of these account types will be added together at the end of the month and compared to the Aggregate Share Balance amount to determine if the member should be charged the fee.
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Aggregate loan balance Include |
To waive the service charge according to the total balance in all of the member's loan accounts, use this field to enter the total aggregate balance to be used for the exemption. If the total of all loan account types marked under Include equals or exceeds this amount at the end of the month, the member will not be charged the fee. Place a checkmark in one or both of the loan Application Type codes listed to be used for the exemption. Balances in each of these account types will be added together at the end of the month and compared to the Aggregate Loan Balance amount to determine if the member should be charged the fee.
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Combined aggregate balance Include |
To waive fees according to the total balance in any combination of member accounts (loans and shares combined), use this field to enter the total aggregate balance to be used for the exemption. If the total of all account types marked under Include equals or exceeds this amount at the end of the month, the member will not be charged the fee. Place a check in one or more of the Application Type codes listed to be used for the exemption. Balances in each of these account types will be added together at the end of the month and compared to the Combined Aggr Bal amount to determine if the member should be charged the fee.
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Buttons
Button |
Description |
Save/Done (F5) |
Use this to save changes made to this screen. These changes will be written to CUFMNT. |