FAQ
- Q. How do you develop business member approach for your credit union?
- A great starting point would be to look within your existing membership and identify existing or potentially existing business memberships you may actually already have. These could be coded as and treated as consumer accounts but there could be an opportunity to treat these members differently and deepen the relationship. If you are curious as to how you would start with an analysis of your membership, contact the BizLink team and we
would be happy to guide you through the process or do the work for you. - Q. What sort of lending products would I want to market to business members?
- A line of credit (LOC) or a credit card is always a great starting point for business loans. Just like for consumer loans, this gives your member the flexibility to use the funds as they needs access and use in the future as balances are paid down. Are you aware of specialty products CU*BASE offer that can work perfectly with business offerings like – Switch LOC or Stepdown LOC. Contact the BizLink team to learn more about how you can utilize the full value of the CU*BASE toolset.
Business Accounts in CU*BASE
- What is “BizLink 247” business banking?
- What options are available for who controls setup and access to “BizLink 247” business banking?
- What is PIB MLO?
- Can a business member perform P2P processing?
- Can I print both the member name and the DBA name at the same time on things like statements or other documents?
- If I choose to print DBA name, on what forms and other documents will it appear in place of the member name?
- How do I set up a DBA account on CU*BASE?
- Are DBA names printed on tax forms or reported to the IRS?
- Can I print DBA names on statements and other documents?
- Can CU*Answers originate ACH items?
- What is the timeline for performing A2A transfers and when the actual posting occurs?
- How can I find out where my members have loans, credit cards, or LOCs at other financial institutions?
- How do I use CU*BASE tools to keep track of the beneficial owners on my business accounts and other memberships?
- Explain how the Secondary Names (SECNAMES) file works to store joint owner names, especially in cases where a membership doesn’t really have “joint owners” per se (like a Representative Payee).
- Can I set up individual and organizational trusts differently using the Membership Designation codes?
- How do I use CU*BASE tools to keep track of the beneficial owners on my business accounts and other memberships?
- What’s the best way to create a Representative Payee account on CU*BASE?
- What is the best way to set up a trust account on CU*BASE?
- How can I change a membership account from an individual (MI) to an organizational (MO) type?
- Can I pull a credit report on a business account?
- Can I offer CU*Talk audio response services to my members who use “BizLink 247” business online banking?
