Configuration
Fee Record will be built out. Since there is two different rates for each fee, there would need to be two fee records built. The process would be set to Credit Card Cash Advance and Balance Transfer and Control Value 1 would be set for each.
Once the Fee record is setup, you will need to tie it back to the Credit Card Calculation record for real time posting.
True or False
The E-Sign Consent fields and the Mail Marketing Option under the Person Record are vital for mapping. These fields are part of our standard statement and notice XML file that goes out to the CU's print vendor.
False.
Although they may be vital for the CU to map, the fields are not extracted in any files currently. These fields are informational only.
2025_01 Mail Marketing Option
2025_02 E-Sign Consent (E-Sign Act)
This batch program will trigger right of offsets from specific shares for Negative Shares or Delinquent Loans may have under their account.
BONUS:
CEFCU want to ensure that federal benefits deposited via ACH are protected funds. Does this program protect these funds? If so, how?
Introduced 2015_02 and updated 2025_02. Delinquency Transfer Posting batch program.
No. The system currently does not support distinguishing Federal Benefits ACH deposits from Payroll/Other ACH Deposits. The batch program currently will perform a transfer based on balances available regardless of source.
If the CU was going to charge off Account 10000 S0000 using the Charge Off Type = Charge Off - Courtesy Pay. What GL would the share charge off to and why?
719200.0000.0000
The Charge Off GL from the Share/Loan Type will supersede the Charge Off GL from the Share/Loan Charge Off Type.
When an ACH Item hits for 2,000,000.00 under Account 60000 S0500, what is the system going to do and why?
The system will pay the item and sweep funds from Account 40000 S0100 to maintain a target balance of 150,000.00 by the time the item clears.
The reason this is happening is because the Account 60000 S0500 is enrolled in sweeps which acts as the primary overdraft source.
Release 2014_02
Loan/Credit Card/LOC overpayments can be credited back to members via what batch program?
Release 2020_03. Negative Loan Balance Transfer batch program.
James Potter Account 30000 just had a HELOC funded L0001. He now wants to advance 100k from his credit line available amount.
What due date would be set for this advance and why?
5/25
First Due Date Calculation is set to On or after grace days after statement cutoff with a Grace Days of 45 Days. The system will look for the a due date 45 days after the next statement cutoff. The system is on 3/27, so the next statement cutoff is 3/31 for this loan. 45 Days after that would be 5/16. The Loan has a frequency of the 25th of the month so the system will look for the first 25th after 5/16 which puts the due date for that advance at 5/25.
State Employees FCU reported that they are seeing a discrepancy in payment amounts when funding Michelle Obama's new auto loan on 10000 L0001. Their origination system quoted a payment of $2,450.62 every month but Keystone calculated a payment of $2,481.68 when it funded. Explain why.
The loan was funded with Single Unemployment Insurance in Keystone. This adds an additional $2,156.11 over the course of the loan to be amortized into the payment at a 6% rate.
Corelation FCU explained that today, when EOM runs, their system will trigger a member's checking shares and savings shares to be on the statement if the savings had a Reg E transaction. In addition, even if one savings share had a Reg E Transaction, then all savings share on the account would also be statemented that month. Looking at the current configuration you created under Statement Cutoff - Monthly. Will this setup meet the CU's expected behavior? Why or why not? Explain the setup.
No, it will not. The current setup will only output shares/loans with a monthly statement cutoff. To force shares/loans that are tied to a quarterly statement cutoff to be statemented if it has a Reg E transaction, you will need to add Quarterly cutoff group under your Reg E Group List. In addition, to force other quarterly shares under the account to also be included, you will need to add Quarterly cutoff group again under the Additional Group List.
What record(s) and configuration is needed to ensure proper processing of MLA Refunds?
Fee Record for MLA Refund is needed to be configured.
Fee setup above should be added to Credit Card Calculation if CU has in-house credit cards. Statement cutoff will processes posting of fee refunds using this record.
MLA Posting Batch Program is needed that will post refunds for non-credit card loans.
MLA Limitation must be set to Yes under Loan Record.
MACU is reporting that they are attempting to deposit a check for 160k into Disneyland Corp Account 50000 and they are finding that the system is releasing too much money. The member is asking for the single check to be split into all 4 shares evenly (40k in each share). The expected behavior is that the member would receive 40k made available right away on a single share and everything else is set to follow regular Reg CC guidelines. Explain what the system is doing and why?
Keystone is releasing 40k to each share. The reason is because each share has a 40k Check Hold Next Day Available Amount and the Check Hold Policy has the Aggregate Option = Share and the Next Day Available Amount Option = Share amount if larger than check hold policy amount. With these settings, the system is designed to look at how much available amount the member was given for check deposits per share per day. If the CU wishes for this limit to be per account instead, then the aggregate option should be changed to Account.
Release 2024_02. The system will notify the Relationship Officer, Angel Gonzalez via an email that there is an NSF item for 350,000,000.00 and the member's current balance is 200,000,000.00.
Your CU explains that due to the OBBB legislation, they must now report Vehicle Loan Interest for qualified vehicles.
Does Keystone support this today?
If so, what fields are relevant for this reporting to occur and what IRS Tax Form will provide these details?
2025_03.
Yes, it does. A new option has been been available under the Loan Type's IRS Form Option. This field is also available under the Loan Record. When this IRS Option is set to Vehicle loan with 1098-VLI requirement, the system will output the Loan YTD's Outstanding Principal Balance and any Interest Paid YTD values for that tax reporting year.
1098-VLI
Wings CU's Collections Management has been made aware that Michelle Obama's 10000 L0002 Home Equity Line of Credit has been included in a Chapter 13 Bankruptcy. As part of this filing, the courts have asked Wings to allocate 6500.00 of the loan balance as a Pre-Petition Balance with the remaining amount as a post petition balance. Any payments received must be applied to the pre-petition balance first. What setup is needed to accommodate the separation of pre-petition and post petition bankruptcy balances and how would you be able to apply payment accordingly?
Release Notes 2018_02 explains that the Trouble Debt Record is needed to be able to appropriately store/house Pre-Petition Original Balance and Current Balance. In addition, the Loan Record's Bankruptcy Indicator must be set to to the same value as the TDR Record's Bankruptcy Indicator. When those fields are set, the system allows for a special handling option on a Payment transaction to become available called Bankruptcy pre-petition payment. With this option, the CU can indicate whether a payment is being used to pay down the pre-petition balance or a post-petition balance.
What does the Maturity Renewal Age Check batch program do and what fields within the system does it use/reference?
The Maturity Renewal Age Check Batch Program generates a report that lists shares that may be ineligible for renewal into the same share type based on the primary members age. This program references the Minimum Person Age and Maximum Person Age under the Share Type. 2025_01 Release
CEFCU's Loan Servicing team, reported that they have a pre-payment, early closure penalty on their HELOCs. The structure of the penalty fee is:
- 300 if paid off and closed in the 1st year.
- 200 if paid off and closed in the 2nd year.
- 100 if paid off and closed in the 3rd year.
- No fee if paid off and closed after the 3rd year
Can Keystone support this? Show me how Account 30000 L0001.
3 Loan Hold Records with a Category = Close Fee would be setup.
The first record would have the amount = 300 and effective date = Open Date while the expiration date = Open Date + 1 year
The second record would have the amount = 200 and the effective date = Open Date + 1 year and 1 day while the expiration date = Open date + 2 years
the third record would have amount = 100 and the effective date = Open date + 2 years and 1 day while the expiration date = Open Date + 3 years