Master CU Parameter Configuration (3)

Description

Teller Processing

The functionality of this flag is not currently warranted. It is typically checked (Y).

• As with any flag that is not actively used, testing should be done if intending to change the current value of this flag.

Notice Print

This field is no longer used. Member Notices are now controlled by settings in the Configure Laser Notices configuration feature.

• As with any field that is not actively used, testing should be done if intending to change the current value.

This field is no longer used. Member Notices are now controlled by settings in the Configure Laser Notices configuration feature.

• As with any field that is not actively used, testing should be done if intending to change the current value.

Loan/Open Credit Processing

The functionality of this flag is not currently warranted. It was originally intended to control whether or not payment change settings could be entered in loan category configuration. It is typically checked (Y).

• As with any flag that is not actively used, testing should be done if intending to change the current value of this flag.

This setting controls how the Available Balance amount is calculated for line of credit loans (Application Type OC.) If checked, any accrued interest due will be included when calculating the amount available to be disbursed from the account, as follows:

Disbursement Limit - (Current Balance + Accrued Interest) = Available Balance

If unchecked, the calculation does not subtract any interest due from the available amount:

Disbursement Limit - Current Balance = Available Balance

This flag controls the payment of Marketing Club benefits on loan accounts. If your credit union uses loan rate benefits for members of Marketing Clubs, you can choose to post accrued benefits back to the loan account (reducing the loan balance), or to a share dividend application.

Leave the field blank to post to the loan account. Enter a Dividend Application code to post to a share type account.

SEE ALSO: CU*BASE Marketing Clubs: Configuration, Benefits and Enrollment

Used for CPI force-placed insurance processing (posting and payment change processing only).  Refer to the CPI Force Placed Insurance booklet.

Select Allied, SWBC, State National, Other or None from the listing.  Selecting Other or None will opt you out of the “posting and payment change” processing.

Used for CPI force-placed insurance processing (posting and payment change processing only).  Refer to the CPI Force Placed Insurance booklet.

Enter the number of grace days required by your vendor. 

Used for CPI force-placed insurance processing (posting and payment change processing only).  Refer to the CPI Force Placed Insurance booklet.

Enter the number of months for the term of a force placed insurance policy.  This need to match the requirements of your vendor.  (Generally this is twelve months.)

NOTE:  If a term of "99" months is configured, CU*BASE will amortize the CPI over the remaining term of the loan (assuming that the term is not more than 99 months, on RV loans for example).

CU*Answers has developed SSO integrations with both CUNA Mutual Group’s Protection Advisor, Frost’s VisualGAP, and Allied IQQ products to help your lenders streamline the process of quoting premiums and issuing certificates for GAP and mechanical breakdown coverage to members.

Use this field to select which vendor your credit union will use.  Additional activation and configuration is required.  

Refer to these booklets for more information.

CUNA Protection Advisor Integration

Frost VisualGap Integration

Allied IQQ Integration

Select an option to allow the sending of balloon loan applications to a third-party to calculate the residual value.

This field currently has a single select option for Auto Financial Group (AFG). Visit the store to get started with AFG.

NOTE: If a vendor is removed from this field, the system will automatically clear the associated information from Tool #462 Loan Delivery Channel Configuration.

Select from J. D. Power (formally NADA), Kelley Blue Book or None.

Your credit union can implement a tight integration between CU*BASE and the J. D. Power or Kelley Blue Book to populate the automobile’s current value directly into the collateral record. Learn more in the Configuring Tools for Your Loan Team booklet.

• IMPORTANT:  Prior to activation, you will need to work with Lender*VP to set up the connection to collect the data. 

• NOTE:  This feature cannot be used with commercial vehicles at this time.  Only automobile valuation can be populated.

• Self Processor credit unions:  To use this new feature you will need to add new subsystem.  Contact Lender*VP for assistance.  

Check this box to activate the Automated Collateral Valuation feature.  Once this box is checked, the fields and buttons will appear on the Loan Workflow Controls screen allowing you to set up this feature.  Learn more on the Loan Workflow Controls screen.

Once this activation is complete, when accessing collateral on the Loan Collateral Identification screen (used in loan applications and when updating collateral on an existing loan), you will see a "Get Value" button."  This allows you to populate the automobile’s current value directly into the collateral record. Learn more on this topic: Loan Collateral Identification screen.

• NOTE:  The "Get Value" button will appear only for collateral records of the collateral types selected in the "Valuation for collateral types" field.  

Lender*VP will assist you with this connection to OpenLending as the default insurance interface. Check this box as part of the setup to send loans to OpenLending for approval and certification.  Learn more: OpenLending Loans.

NOTE: If a vendor is removed from this field, the system will automatically clear the associated information from Tool #462 Loan Delivery Channel Configuration.

CD Processing

The functionality of this field is not currently warranted. It is typically left blank.

• As with any field that is not actively used, testing should be done if intending to change the current value of this field.

This field controls the timing of renewal notices for maturing certificates. Enter the number of days’ notice you would like to give members before a CD account matures or renews (30 days is common). At that time, an appropriate Member Notice will be generated to alert the member of the status of his or her account. (NOTE: Prior to January 2008, if this was set to less than 30 days, the system sent a renewal notice at 30 days anyway. This has been changed so that you can use a shorter notice period, such as 14 days, if you wish.)

SEE ALSO: Member Notices: Configuring and Printing CU-Defined Notices and eNotices

Special Tax Forms Processing

Select this box to activate 1042-S (Foreign Person’s U.S. Source Income Subject to

Withholding) processing. Activating this option will allow you to flag members to receive a 1042-S. 

This option is currently in a special beta. More information for this topic will follow.

This option is currently in a special beta. More information for this topic will follow.

 This option is currently in a special beta. More information for this topic will follow.

This option is currently in a special beta. More information for this topic will follow.

Check this flag to report negative balance accounts.

Collectors have the option to send a one-time record to the credit bureaus when savings and checking accounts are charged-off.  This requires activation. Credit unions should contact a Client Service Representative for assistance to activate this feature.

Learn more about this feature: Savings/Checking Charge Off booklet