CU*Answers, a CUSO known for providing its flagship core processing system, CU*BASE, has recently announce a software enhancement to give credit unions better control over how funds are released on teller check holds.
With the CU*BASE 9.2 Release, new configurations and controls differentiate business dates from calendar dates. Credit unions can use a new configuration to specify normal business days and any additional holidays the credit union observes. Or, if the credit union wishes, it has the choice to opt out of the master list of Federal holidays and simply define all of the holidays manually in its own configuration.
Tellers will now have the option to calculate check holds by business days in addition to the previously available calendar days. If this option is checked, CU*BASE will run uncollected funds against the two new non-business days configurations to determine when the credit union is open, and then set the release date accordingly. Additionally, the Outside Checks screen now clearly states which method is configured to assist tellers when they place holds on checks.