CU*Answers, the 100% credit union-owned data processing CUSO, has upgraded transfer controls for its online banking platform, It’s Me 247. Credit unions can now offer members additional control, privacy, and convenience as members can set their account to only allow transfers to select accounts depending on the other individual’s owner status. When setting up an account base for a member to transfer to three choices are offered: allow transfers to all sub-accounts under this membership, allow transfers to sub-accounts on which the primary member is listed as a joint owner or additional signer or allow transfers to specific account suffixes only (will then proceed to a separate screen to set up one record per suffix).

Credit unions will be able to set a default preference for transfer control, but this setting can still be adjusted on a case-by-case basis to accommodate situations such as members who need to transfer money to someone even when they aren’t listed as an owner on that person’s account.