In the CU*Answers Kitchen
We're always cooking up new ideas here in the CU*Answers Kitchen and we'd like to share some of our current recipes with you. These are some of the large topic projects that are currently in varying phases of development. These 'recipes' are not designed to show you the nitty-gritty specifics but rather showcase the general ingredients involved and the 'chef' who is your point person if you do want more information.
Click through and check out what's cooking now and check back later to see how the menu changes.
Bon Appétit!
Online Ballots
CU*Answers has begun a project to create an online voting system so that credit unions can periodically set up a ballot in CU*BASE and allow members to complete the ballot (vote) online after logging in to It's Me 247 online banking.
360-Day Mortgage Enhancements
Major improvements are coming soon to how CU*BASE and It's Me 247 online banking will handle member payments on mortgage loans. Check out the new kitchen page to see what's cooking!
Collaborating on Compromised Plastics Procedures
When you receive notices from your ATM/Debit or Credit Card vendors about potentially compromised cards, how does your credit union respond? Do you immediately cancel all of the cards on the list and issue new ones? Do you send letters to members first and order new cards, canceling the old cards only after new ones had been reissued? Do you contact members personally by phone, giving them the option of cancelling their card immediately or waiting and watching the account until their new card arrived? Do you post information on your website?
Obviously your procedures are governed a lot by your assessment of the risk and your policies about managing the potential for fraud. But most of the people we talked to said that they would love to hear ideas from other CUs. Are there better, faster, more effective techniques that can help minimize stress on members and staff while still mitigating the risk of fraud? Can we learn from each other and collaborate toward better solutions for everyone?
Proposed Changes to the FACT Act
During January 2009, many of our Michigan clients attended a seminar addressing the recommended changes to banking and credit union regulations in accordance with the accuracy of reporting information to credit reporting agencies. We have received many calls regarding these requirements. Read the findings of our review.
Your chef for this recipe is Jim Vilker
Teller Cash Recyclers (TCRs)
CU*Answers is pleased to announce that effective with the CU*BASE 8.6 release, the CU*BASE Teller system now offers an interface option to integrate with a Teller Cash Recycler (TCR). This interface, which was developed with the cooperation of DeLaRue, will support direct TCR control from the teller system as well as cash buy/sell functions for head tellers. It also includes features for inventory control, auto mix, auditing, and activity journals.
- Read the TCD / TCR Getting Started flyer
- Read the User Guide
- Supported TCR Hardware
Coming soon...We're also working on enhancements that will allow us to start supporting InstaChange coin dispensers for the DeLaRue TCR models. Stay tuned!
Your chef for this recipe is Dawn Moore
International ACH Transactions (IAT)
After careful review of the ACH Rules regarding IAT Sec type transactions, CU*Answers is in the process of finalizing its specifications for receipt of these transaction types through the Federal Reserve:
Our intention is to receive these transactions along with all seven lines of addenda information and post them to the credit union's warehouse. The addenda information will be stored for a short period of time to allow the return and posting processes to work properly. These items will be held in suspense and will not be posted without manual intervention on the part of the credit union. The reason for this is that these items must be run through an OFAC scan to validate them against the SDN list. Once the credit union reviews these items we will allow the credit union to post them manually in the same way you currently post exception items. Our intention is to list these items separately on a report to allow for the appropriate archival and provide an easier method to review the original addenda information.
NOTE: The new Account-to-Account (A2A) Transfers feature will not accommodate international ACH transactions at this time. Magic-Wrighter will be reviewing this capability after the Federal Reserve has implemented all IAT-related changes. Remember also that there is a special enrollment process a credit union must complete with the Fed in order to be authorized to initiate international transactions.
Your chef for this recipe is Jim Vilker
5300 Call Report Tools for CU*BASE
CU*Answers is working on ways to help credit unions complete the quarterly task of completing the NCUA 5300 Call Report. We've even hired a dedicated resource who will manage the project, from documenting tips for CEOs to testing future software tools.
Your chef for this recipe is Karen Sorensen
Tiered Services Focus Group
A focus group meeting was held on Thursday, October 9, 2008, to brainstorm on future enhancements to the CU*BASE Tiered Services member relationship management tools. Below are some materials related to this meeting. Your chef for this recipe is Dawn Moore.
Enhanced Due Diligence (EDD)
This project proposes methods to incorporate Customer Due Diligence—also referred to as Enhanced Due Diligence (EDD)—processes into CU*BASE. These ideas are being fueled by regulators requiring CU*BASE clients who are actively supporting commercial accounts to complete their due diligence to meet the guidelines of BSA, primarily associated with Anti-Money Laundering (AML).
Account-To-Account (A2A) Transfers
This project adds Account-To-Account (A2A) transfer capabilities to CU*BASE and It’s Me 247 Online Banking so that members can initiate transfers between their CU accounts and accounts at other financial institutions.
Privacy 2010
Read more about our plans for the first wave of new privacy-related projects that will probably continue into the year 2010 and beyond!
It’s Me 247 Online Banking
We like to keep your members up to speed on enhancements coming, so we have a special page on the Online Banking Community for what's coming down the road. Visit the OBC.
Miscellaneous Resources
Tools for your marketing team and other resources:
Payday Lending Focus Group
CU*Answers is working with credit union partners to build Payday Lending solutions for your members. We're calling them Single Pay, Short Duration (SPSD) Credit Transactions. Your Chef for this recipe is Randy Karnes - contact him at rkarnes@cuanswers.com if you'd like to contribute your ideas!
From the October 4, 2007, Focus Group Kickoff Meeting:
- Oct. 4 Focus Group Presentation (PowerPoint)
- Oct. 4 Focus Group Kickoff (PDF)
- GoodMoney Payday Lending from Prospera CU (PowerPoint)
- GoodMoney Payday Lending from Prospera CU (PDF)
- Invitation / Meeting Agenda
- April 23 Focus Group Presentation (PowerPoint)
- Screenshots from version 1.0.0 (PowerPoint)
Other Resources:
ATM/Debit Card Interface "Pause for a Cause"
During 2008 CU*Answers devoted significant time and resources to developing a completely new platform for ATM and Debit Card processing that will affect all network switches. (It was dubbed "Pause for a Cause" because of a blackout period for new vendor conversions during the first half of 2008.) Read more about what's cooking...
Microsoft Windows VistaTM
Updated as of November 2008. Compatibility testing for Microsoft Windows VistaTM has almost been completed. There are still some outstanding issues related to running eDOC Innovations e-receipts and photo ID capture tools which are still in processs. Vista is working with CU*BASE GOLD and other network components. Search the AnswerBook for information about hardware and system requirements. Note: You will need to download the WinHelp32.exe program from Microsoft in order to view CU*BASE GOLD online help on a Vista workstation.
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