On HOLD for FEP/ING

Unless noted otherwise, this recipe has been placed on the back burner for a time while we focus our development resources on the 2013-2014 file expansion project. We'll turn up the heat again in the future, so stay tuned!

Business Servicing Fee Packages

Updated January 30th 2013

This Recipe's Chef

Got ideas for new or different ingredients? The chef for this recipe is Dawn Moore.

Business Servicing Fee Packages

CU*Answers is planning some new tools to assist credit unions who need a business member fee program that more closely mirrors what is typically offered by banks. The tools are intended to meet the needs of business members who are looking for programs that follow more classical conventions than what has traditionally been offered by credit unions.

The new feature will bundle and aggregate all business servicing fees, calculate an offsetting credit (subtracting dividends paid, if desired) and post a single business servicing fee once each month. This could appear to the member as either one net transaction that includes both fees and an offsetting credit combined. Or the CU can choose to post two separate transactions: a summarized fee debit transaction and a calculated credit transaction.

Status: Still in design phase, no target dates at this time.

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