Certificate Rate Inquiry

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IRATE3-01

Certificate Dividend Rate

417

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This screen appears when you choose “Certificate Rate Inquiry” from the initial Rate Inquiry screen.

Visit Show Me the Steps for easy instructions on how to use CU*BASE to quote a CD rate and complete other tasks related to member inquiries.

This screen displays the latest dividend rates for all certificate products. From this screen, you can calculate APY or see rate change history for any certificate type, as well as quote dividends using actual deposit amounts and dates.

· To calculate Annual Percentage Yield for any product, select the product and choose APY calculator (F2).

CU*TIP: The “Get IRA Advice” button will access a web-based tool that explains IRA products and gives tips on the right IRA for a particular member's situation. (Internet access is required to use this tool.

Field Descriptions

Field Name	Description
Type	The type code for the specific CD.
Description	A description of the CD.
Rate	The base rate paid for this product. · NOTE: If an asterisk (*) appears next to the Rate for this product, there are multiple rate tiers for this CD Type. Use the View Tiered Rates (F23) feature to view additional tiers.
Term	The term for the CD (D=Day, M=Month).
Minimum Amount	The minimum deposit necessary to open the CD. · NOTE: If an asterisk (*) appears next to the Rate for this product, there are multiple rate tiers for this CD Type. This minimum represents the first tier only. Use the View Tiered Rates (F23) feature to view additional tiers.
Maximum Amount	The maximum amount which can be deposited into the CD account. · NOTE: If an asterisk (*) appears next to the Rate for this product, there are multiple rate tiers for this CD Type. This maximum represents the first tier only. Use the View Tiered Rates (F23) feature to view additional tiers.
Calc Type	A code indicating how the CD dividends are calculated. Valid codes are as follows: A Dividends compounded on the CD balance plus accrued daily dividends C Dividends computed on the current CD balance S Dividends computed on original CD amount (face value) only
APY	The Annual Percentage Yield, provided in compliance with the Truth in Savings regulations. This is calculated taking into account compounding and other variables. · NOTE: For certificates that are set up to pay dividends at redemption only (usually dividend payment code “R”), the calculator will not show the correct APY beyond 12 months.

Command Keys

Command Key	Description
F2-APY calculator	To calculate the APY for any product, select the product in the list and use F2.
F7-Cancel	Use this to return to the initial rate inquiry screen.
F10-Dividend quoter	Use this to quote anticipated dividends using actual amounts and timeframes.
F16-History	Use this to view a history of prior rate changes for a particular product. Select the product in the list and use F16.
F21-Procedures	Use this to view credit union-defined procedures for opening this account.
F22-Marketing tips	Use this to view credit union-defined hints and instructions for selling this product to members and answering commonly-asked questions.
F23-View tiered rates	If an asterisk (*) appears next to the Rate for this product, there are multiple rate tiers for this CD Type. Use this feature to view additional tiers.

Link to ID: http://www.cuanswers.com/doc/gold/gold.htm#417g.htm