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Products
CUBase adds default maturity backdating
CU*Base adds default maturity, backdating GRAND RAPIDS, Mich (11/18/10)--The 10.3 release of the CU*Base software from CU*Answers, a Grand Rapids, Mich.-based credit union service organization, includes two new options that provide more flexibility in dating deposit products. To make it easier to set up special certificate products, credit unions are now able to specify a default renewal code and renewal certificate of deposit type on the certificate type configuration. For example, to offer special promotional rates for certificates by limit to a single term, credit unions can set the new default code to something other than auto-renew. Or, for products that do auto-renew by default, credit unions can specify a different default renewal CD type (such as a nine-month special CD to automatically roll to the standard three-month CD). CU*Answers also announced a new feature to automate back-dating or effective-dating. This new option allows users to “unlock” and enter a prior date, with CU*Base automatically processing any necessary adjustments to dividends, interest, dates on printed forms and make other adjustments. An on-going focus has been to simplify account adjustment features, which can be a very complicated manual process, according to CU*Answers. With the CU*Base 10.3 release, the effective-dated account transfers feature provides the ability to unlock a previously posted date and enter a past effective date, move money from on account to another and have the system subsequently calculate and post appropriate adjustments to dividends or interest.


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