Calculate Dividend/Interest Amount

These steps explain how to calculate the amount of interest or dividends that should be adjusted when you perform a member account adjustment.

• The following cases are examples of when you would need to calculate the amount of dividends/interest:

• Two weeks after submitting a payment for deposit into his share account, a member discovers that the deposit was posted incorrectly to his checking account. In this case, the credit union would need to transfer the funds, along with the interest that would have accrued in the two-week time period, to the share account.

• A loan payment check bounces after the payment has already been posted. In this case, the loan interest would need to be corrected.

1. Launch Tool #492 Member Account Adjustment (Full).

2. Enter the account base and suffix on the Member Account Adjustment pop-up.

3. Enter the member's name ID in the ID field.

4. Click the forward arrow.

5. Click Dividend/Interest Calc on the Member Account Adjustment screen.

6. Enter the beginning date of the calculation in the From field on the CU*BASE Math Calculator pop-up.

7. Enter the end date for the calculation in the To field.

8. In the Calc type field, select the calculation type to be used.

   • Loan: Use this when calculating interest amounts for an adjustment involving a loan account.

   • Simple: Use this when the adjustment involves a share or certificate account that is configured for simple daily dividends.

   • Compound: Use this when the adjustment involves a share or certificate account that is configured for compound dividends.

9. In the Amount field, enter the amount of interest or dividends that should be adjusted.

10. In the Rate field, enter the applicable interest or dividend rate.

11. Click the forward arrow.