Configuring Service Charges - Overview

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USVCHGE-01

Service Charge Configuration

5410


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Access this screen by selecting Tool #810: Service Charge Configuration (maintenance) and Tool #964: View Service Charge Config (inquiry).

This is the first of several screens used to configure service charges for various member activity. Service Charges apply to share accounts only and are configured according to Dividend Application (DIVAPL) code. There are three different types, designed to accomplish the most commonly-requested types of fees that formerly required custom programming:

  • Minimum Balance Service Charges - Designed to encourage members to retain a minimum account balance by charging a fee when the balance falls below the minimum. Includes aggregate balance, relationship, and age waiver options. Applied monthly.

  • Transaction Service Charges - Designed to offset the cost of member transaction processing by charging fees for certain type of transactions. Includes options for allowing a limited number of free items as well as age waiver options. Can be applied daily or monthly.

    • HINT: These can also be set up as Transaction Rebates, where the member receives a credit for performing certain desired transaction types (such as using your credit union's lower-cost electronic services)

  • Account Service Charges - Designed to promote the value of a certain account type by charging a periodic fee just for maintaining the account. Includes age waiver options. Can be applied daily or monthly.

IMPORTANT: CU*BASE service charge options are very flexible, and therefore should be discussed with a CU*BASE client service representative prior to implementation. A fee may apply.  See the pricing guide for more information.

CU*TIP: There is a field on the MEMBERx record for share and share draft accounts that can be set so that a member is waived for ALL service charges on that account. This field is updated using Tool #20 Update Account Information. Click here (screen 1, screen 2) for more information on waiving service charges for a member using this flag.