Client News & Updates

Xtend Invites You to a Web Conference

Published Friday, November 6, 2009.

Kick it Up a Notch with Xtend & Member Reach! You are invited to attend a web conference on Wednesday, November 18, from 11:00 a.m. to 12:00 p.m. ET. In this one-hour event learn how your credit union can strengthen your member relationships through Member Reach, e-info, Online Banking and CU*OverDrive. Even more exciting, find out more about Member Reach Advantage!

• Open the invitation
• Register online

ATTENTION ONLINE AND SELF PROCESSING CREDIT UNIONS

Published Wednesday, November 4, 2009.

We have completed our annual ACH audit in compliance with the NACHA Operating Rules. Please retain this document as notice that CU*Answers has complied with the ACH Annual Self-Audit Requirements. Read the 2009 Report Document.

Reducing Risk For Your Online Credit Card Portfolio

Published Tuesday, November 3, 2009.

Sent to CUs using FIS for Online Credit Card Processing – As the Gividends team dives into the world of ATM, Debit and Credit Card support we occasionally come across details that we feel are important to share with our credit unions. We recently worked with a credit union to better understand their configurations at FIS for restricting daily limits, both dollar and number of transactions. This was a great educational experience for us and we wanted to pass on some tips to the rest of our clients.

There are a variety of settings that FIS can configure for your credit union to help you reduce risk and keep better control of your ATM, Debit and Credit Card activity.

• One option is to have FIS block transactions over a certain limit on a daily basis. This can be based on a dollar amount limit, or number of transactions per day.
• Another option is to have FIS provide your CU with reports of any transactions that may exceed your settings. These do not stop the transaction from going through, but rather notify you after the fact if anyone exceeded your settings for the day so that you can watch for trends or do any appropriate follow-up.

Remember that these are settings that FIS configures based on your credit union’s instructions. It may have been a while since you originally worked with FIS on your options, so do you even know what your settings currently are?

How many transactions and how much money do you allow daily?  Do your settings stop transactions from posting?

If you do track the levels, do you review your reports daily? In today’s fast-paced, electronic world, are you getting adequate protection by reviewing reports a day or two later?

Have you actually verified your intended settings by trying to do transactions outside of the boundaries of the settings? Do you re-test quarterly or annually?

Are you using a Falcon Fraud program with FIS?  If so, do you know your settings?  Are they the right settings for today’s environment?  Are you testing them?

If you can’t answer all of these questions, please reach out to your FIS representative for these details and determine if there are changes that you need to make to reduce your exposure.  If you have other questions about your CU*BASE online credit card program, don’t hesitate to contact Shirley Moore, EFT Account Executive, at smoore@cuanswers.com.

Collections Roundtable with Special Guest Star: Skip-a-Pay

Published Thursday, October 29, 2009.

Please join us on Thursday, November 5, 2009 for two very important events:

• The Second Quarterly Collections Roundtable – 9:30am to 12:00 noon EST - Held at the CU*Answers offices in Grand Rapids, Michigan, the Collections Roundtable is an open forum discussion on collections laws, internal procedures and CU*BASE processes. Learn from network partners who learn from each other and add new vigor to your own collections teams.  Open the invitation for more details.
• Skip-a-Pay Web Conference – 2:30pm to 3:30pm EST – Learn the awesome details of configuring a skip-a-pay program for online credit cards. Join Nadine Thomas from Lender*VP for this informative event!  (Standard hourly web conference fees apply – but if you are attending the roundtable, you are welcome to return and sit in for free in our Learning Center!)

You can register online for one or both of these events at http://cuanswers.com/education/special_events or contact Jerry Collins via email at jcollins@cuanswers.com or by phone at extension 237. We appreciate your prompt response! If Jerry does not hear back from you within the next couple of days we will give your lending team a call!

Auditors Applying Pressure for Online Banking Security Controls

Published Thursday, October 29, 2009.

A letter is being mailed today to some credit union CEOs that explains some issues raised during a examination earlier this month by our Michigan State Examiners (along with one NCUA examiner).  If you received that communication, it’s because your credit union should consider taking action now, before you are faced with having to answer challenges by your own auditors.

Read a generic copy of the letter being sent to your CEO/Manager via regular mail.  We are ready and waiting to help you make the simple changes to your configuration that will activate security controls such as longer passwords and login security questions to protect your members.

A CSR will be in touch with you soon to answer any questions you might have.  With just a little bit of heads-up warning to your front-line staff, we can “flip the switch” for you right away.  Or we can help you get your plan in motion.  Either way, we’re ready to help you get a jump on things before you have to deal with the question in your next examination.

NOTE: We have developed a quick tips sheet for MSRs and front-line staff which you might find helpful if you want to increase your password length and/or activate the login security questions with as little fuss as possible.