West Michigan-based cooperative CUSO, CU*Answers, recently announced that it has improved the ability for credit unions on its CU*BASE^® core platform to offer new accounts in It’s Me 247 online banking. Credit unions on the platform have had the ability to offer qualified dividend products, also known in the industry as “Reward Checking,” but now have the ability for members to open these accounts right from within online banking. The CU*BASE Qualified Dividends feature allows credit unions to set up checking accounts with specific eligibility requirements (such as e-Statement enrollment, a certain number of debit card transactions, etc.) to receive a higher interest rate.

Until the 14.2 release, received by online credit unions September 14, qualified dividend products could not be shown on the rate board within It’s Me 247 since there was no easy way to disclose to members that they wouldn’t always qualify for the highest rate. Now, eligible members will be presented with the rate they qualify for, and can learn more about qualifications directly on screen.

CU*Answers added that this is just one of many enhancements provided with the 14.2 CU*BASE release, and that all changes were made at no additional cost to credit unions.