MURRIETA, Calif. (11/13/08)--CUTEK, a financial technology firm that serves credit unions using Symitar’s Episys core processing system, announced the Fee Management Console solution to help credit unions track and manage fees. The console displays all fees charged to a member’s account, and:
* Tracks fees already reversed; * Notifies staff members if they’re not allowed to reverse a fee; * Provides a checkbox option to reverse all fees or individual fees; * Allows for automatic reversal comment for each fee; * Can be customized to disallow reversals based on fee type, number or dollar amount; and * Generates a batch report of fees reversed by a user or branch within a user-specified period so staff can monitor reversal activity.
Technology CU, San Jose, Calif., is testing the console this month. “Our goal for this product was to enhance the consistency and accountability in our fee reporting and reversal capabilities,” said Debra L. Carey, Technology CU associate vice president for information technology project management. It’s good to know when a fee is charged or when it should be reversed, she added.