Freeze Codes
Helpful Resources
Learn how to perform tasks related to member account comments, bankruptcy, and freezing/unfreezing accounts.
Overview
Use one of the following codes to define transaction restrictions for the account:
0 All transactions allowed
1 Withdrawals and disbursements not allowed - This is the most common indicator used for freezing delinquent loans and share accounts, so that additional funds are not given to the member.
2 Deposits and payments not allowed - Although this code could be used to prevent payments from being made to a loan account, it does not prevent withdrawals and disbursements. Therefore it is not recommended for delinquent loans.
3 Both deposits and withdrawals not allowed - Used if legal action is being taken and payments are not to be allowed. If this level is used, it should be backed up with internal policies and instructions from a collections officer so that front-line and other personnel know how to handle the account.