Instant Credit Configuration Added to CU*BASE

CU*BASE credit unions can offer “instant credit” on check deposits made at the teller line to selected members, similar to the manner that CU*BASE handles ATM deposits.

CU*Answers will roll out its newest enhancements and features with the CU*BASE 9.4 Release, available to online credit unions November 15th, 2009.  This release changes the way the new Teller Holds Configuration works to better incorporate the Electronic Deposit Holds (EDH) and Member in Good Standing features so that credit unions can now give their “good” members the same “good deal” at the teller line as they do at the ATM.  New teller-related settings have been added to the Electronic Holds configuration and an existing override flag has been removed from Teller Check Holds configuration.

According to the CUSO, the configuration for Electronic Holds Configuration for outside checks is slightly different than the settings for ATM deposits because tellers enter multiple checks, rather than a full batch as is done at the ATM.  Electronic hold configuration for checks allows credit unions to now determine holds based on a tolerance amount; those checks below the tolerance level will not be held, while checks above the tolerance amount will be held according to the configuration.  The configuration also allows you to select whether this configuration will be used to set holds on the outside checks screen.   Members with codes not configured for teller use will default back to the teller check hold configuration.

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