Previously in the CU*Answers CU*BASE® core data processing system, credit unions can configure up to nine loan delinquency fines. Delinquency fine codes are attached to a loan account and are used to determine when and how fines should be assessed should the loan become delinquent.
With the new release of CU*BASE 15.2, coming on October 18th to all the CU*Answers credit unions for free, delinquency fine codes will be enhanced to be alphanumeric so that credit union can configure more codes as needed. This change adds twenty six more code options and will also accommodate credit unions who are merging in new partners who have existing fine configurations they don’t want to lose.
Per a CU*Answers representative: “This enhancement speaks again to the architecture planning done to support future growth of our CUSO. While this may seem like a minor change to some, it is in fact one of the larger efforts of this 15.2 release, impacting hundreds of CU*BASE programs.”