Master CU Parameter Configuration (2)

Description

Share Par Value

Enter your credit union’s par value for the base share (suffix -000) account. Use whole dollars (025 = $25.00). This value will be subtracted from the member’s current balance to calculate the Available Balance on the -000 base share account.

This field should not be used (leave it unchecked). Low balance calculations are no longer compliant with TIS (Truth-In-Savings) regulations.

This field should not be used (leave it unchecked). It is no longer compliant with TIS (Truth-In-Savings) regulations.

File/Library Backup Method

Choose one of the following to designate how data is backed up on the System where your credit union’s files reside. This should be set to F in most cases.

Process to Save file (F) – Saves backups to disk (in your FILExxE library) rather than directly to tape. This is the recommended setting. Although saving to disk can take slightly longer compared to today’s high-speed tape drives, saving to disk prevents a BOD or EOD process from failing due to problems with a tape or the tape drive, and it is also much faster to restore files should you need to for any reason. This is required if your credit union uses Defense MD data encryption of tape backups.

Tape (T) – Save backups directly to a tape device.

NOTE: Be sure also to use the “Daily File Back-up Config” option on menu MNOP09 to specify details about how your daily backups should be handled.

Miscellaneous

This controls how the device names that are set up in CU*BASE Hardware Configuration are interpreted by the System. A device can have up to 10 characters in its name. This field denotes the “significant” number of characters in the name that should be used when identifying the device for CU*BASE functions.

• NOTE: In this context, the word “System” is used to describe the physical server device on which your CU*BASE software and member files reside. IBM has referred to this by various names over the years, including AS/400, iSeries, System i, and POWERi.

The standard naming convention for online credit unions is to use the first 2 letters to identify the device, then the credit union number for the next 3 digits (AA123 is device AA at credit union #123). However, on the System there may be two devices names configured for this same physical workstation, to allow a user to have multiple sessions. CU*BASE GOLD indicates this by adding G0, G1, G2, etc., to end of that device name (AA123G0, AA123G1, etc.). CU*BASE only needs a single configuration per workstation. Therefore, it can “ignore” these non-significant characters at the end of the device name.

For online credit unions, enter 5 here.

Use this to designate the time zone for the physical location of the System where your credit union’s files reside. This may not be the same time zone where the workstations themselves are located. Online credit unions should choose Eastern.

• NOTE: The time zone for individual workstations is configured using the CU*BASE Hardware Configuration feature.

This is used when calculating the proper time to print on receipts for member transactions. Remember that transaction history will always show the time according to the System on which the transaction was recorded. If the workstation is located in a different time zone from the System, the system will automatically calculate the local time for printing on the receipt only.

Check this flag if the System where your credit union’s files reside is subject to Daylight Saving Time. Online credit unions should check this flag.

• NOTE: This may be different than the rules for your individual workstations. The Daylight Saving Time control for individual workstations is part of the CU*BASE Hardware Configuration for each workstation.

This is used along with the Time Zone specified above to calculate the proper time for printing on member receipts.

Enter the percentage amount that should be used to calculate backup withholding for dividends. Use a whole percentage amount (024 = 24%).

This will affect members whose memberships are marked as subject to dividend withholding on the MASTER membership record. Every time a dividend is paid to the member, this percentage of the dividend will be automatically withheld and placed in the G/L account specified later on Master CU Parameter Configuration screen 4.

Check this flag to activate the Reg. E Opt In/Out flags on various membership information and account opening screens, to allow members to choose their preference for taking advantage of your credit union’s overdraft services for ATM and one-time debit card transactions. (Does not apply to NSF fees nor recurring debit card transactions.)

NOTE:  Remember that unless Reg E is activated globally, CU*BASE has NO mechanism to waive ANR (Courtesy Pay) fees unilaterally for members. In fact, not activating this flag has the effect of acting as if all members are opted in.  (After all, Reg E controls were intended to let members opt out of a CU’s normal programs in the first place.)    

SEE ALSO: Opt In/Opt Out Managing Your Reg E Offering

If checked, the credit union can define by membership designation which members are not required to use the 000 account for par value and it will not be checked in any channel for employees or members, unless the balance is other than zero.

Select this flag to retain card activity data (such as card authorizations, completions, returns, etc.) in the ISOCUDTA file. Retention is standard at 30 days unless a custom request is completed (there is a fee for additional retention).

Daily Processing

This setting controls when your credit union’s share products are monitored for dividend processing. In this context, monitoring refers to when dividends accruals are calculated for all share, share draft, and tax escrow type accounts (where a dividend rate is configured). EOD should be selected in ALL cases.

Choose EOD if calculations should occur during end-of-day processing. This means members earn dividends starting on the same day as a deposit is made.

Choose BOD if share dividends should be calculated during beginning-of-day processing. This means members earn dividends starting on the day after a deposit is made. IMPORTANT: This option is no longer legal due to Truth-in-Savings regulations.

This setting controls when dividends are paid for your credit union’s share products. This can be the same as or different from the setting in the Daily dividend monitoring field.

Choose BOD if accrued dividends should be paid to member accounts during beginning-of-day processing. Use this if you wish to pay dividends as of the 1st of the month (or quarter, etc.) after the dividend period is over, rather than on the last day of the dividend period. Remember that this affects when the dividend payment transaction is reported on member statements. (For example, with this setting, members would see July’s dividend payment on their August statement.

IMPORTANT NOTE: If dividends are paid during beginning-of-day, please note that special steps are needed if a dividend regeneration is ever required for any share product. Click here and read more information about the Start Date field in dividend application configuration.

Choose EOD if accrued dividends should be paid to member accounts during end-of-day processing. Use this if you wish to pay dividends as of the last day of the month (or quarter, etc.), within that dividend period. Remember that this affects when the dividend payment transaction is reported on member statements. (For example, with this setting, members would see July’s dividend payment on their July statement.)

This setting controls when your member loan accounts will be evaluated to determine whether or not they are delinquent.

Choose BOD if loans should be evaluated during beginning-of-day processing. With this setting, a member could be declared delinquent the morning after a payment is due. For example, if a loan is due on the 12th and a payment is not made, the loan will be marked as delinquent as of the morning of the 13th. This is the most common setting.

Choose EOD if loans should be evaluated during end-of-day processing. With this setting, a member is declared delinquent at the end of the day, one day after the payment is due. For example, if a loan is due on the 12th and a payment is not made, the loan will be marked as delinquent during the evening of the 13th (visible in various CU*BASE systems starting on the 14th). In effect, this setting gives members extra time to make a payment during your credit union’s working hours before the system marks the account as delinquent.

• CU*TIP: When a loan is marked as delinquent, a Member Comment will be created and the loan account will appear highlighted on Member Inquiry and Phone Inquiry screens, on the Teller Deposits/Withdrawals screen, in the CU*BASE Collections system, and on various delinquency reports.

• IMPORTANT:  There are important nuances to how the timing for delinquency monitoring relates to automated funds transfers, based on when you run your automated transfers as well as how you set the delinquency and payment date controls on your AFT records. Learn more about default AFT settings in Loan Category configuration

This setting controls when Auto Funds Transfers (AFTs) and Check Funds Transfers (CFTs) are posted to member accounts.

Choose BOD if transfers should be done during beginning-of-day processing on the scheduled transfer date. With this setting, members must have the required funds in the “transfer from” accounts on the day before the transfer is scheduled to happen.

Choose EOD if transfers should be done during end-of-day processing on the scheduled transfer date. In effect, this setting gives members that full day to transfer money into the “from” account to cover the transfer.

• IMPORTANT:  There are important nuances to how the timing of delinquency monitoring works with automated funds transfers, depending on how you set the delinquency and payment date controls on your AFT records. Learn more about default AFT settings in Loan Category configuration

Pertains to Auto Funds Transfers (AFTs) and Check Funds Transfers (CFTs) from member accounts. If Yes, funds that are flagged as secured (Misc. Secured Shares or shares pledged on a loan) will not be used to complete the transfer. If No, an AFT/CFT transfer will be allowed to dip into secured funds.

Pertains to Auto Funds Transfers (AFTs) and Check Funds Transfers (CFTs) from member accounts. If Yes, par value dollars will not be used to complete the transfer. If No, an AFT/CFT transfer will be allowed to dip into par value funds.

• Par value applies to the base share (-000) account only.

If the Automatic transfer post flag is set to EOD, this flag controls whether or not the system will automatically run AFTs during BOD on the first business day immediately following any day where daily processing was not run (Sundays, holidays). This would “catch up” any AFTs that were originally scheduled for that date and therefore not processed yet.

In most cases it is recommended that this flag be checked (Y). However, some self-processors may run BOD for Monday on Saturday afternoon. If this flag is checked, member AFTs that would not normally run until Monday night would actually happen on Saturday afternoon. This caused member complaints about funds being taken earlier than expected. Therefore this flag can be left unchecked to prevent the system from playing catch up on AFTs.

Choose one of the following to designate how scoring for the Tiered Service Levels program should be processed for your credit union.

Member (M) - All members are scored individually according to their participation, regardless of other members of the household.

Household (H) - All members are scored individually, then the system compares everyone in the same household, and assigns to all members in the household the highest score earned. For example, a husband and wife are both members and have been enrolled in the same household. If the husband earns 709 points and the wife earns 837, both will be assigned a score of 837 points. (This does NOT affect the Lifetime Reward points granted to members. Lifetime Reward points are always based on the member’s actual earned score.)

No scoring (N) - Use this if your credit union has not configured Tiered Services and does not wish to calculate scores for your credit union members.

SEE ALSO: Tiered Services Levels Implementation Guide

This flag lets the credit union choose how the system handles the 1st date negative field on all savings and checking accounts.

EOD - The system will only clear the 1st date negative if the balance is positive at the time monitoring is done (most common).

Any - The daily routine that resets this field will change so that if the account was brought to a positive balance (or even to a zero balance) at any point during the day—even if it subsequently went negative again that same day—the system will still reset the 1st date negative.

Data Warehouse Settings

These settings pertain to data warehouses, which are online libraries that allow CUs to store data that can be used for deep analysis and optics. See more in the Store: https://store.cuanswers.com/product/data-warehouse-library/

Check this flag and set the months of retention for Phone Optics. A Data Warehouse is required. Learn More: Phone Optics Overview

Check this flag and set the months of retention for Online Banking Optics. A Data Warehouse is required. Learn More: Online Banking Optics Overview

For future use.