How long will transaction data be stored?

The new standard retention periods are really easy to remember:

*The “everything else” in this case includes all certificates, IRAs (shares and CDs), HSA share and checking accounts, club accounts (such as vacation, holiday, Christmas), tax escrows, and all loans.

When will I see the difference?

The change to our purge schedule is effective immediately. But we are not going back and restoring old data. That means it will take up to 12 months (depending on whatever your settings were before) for the extended retention to build up. For example, loans that previously retained 12 months will gain a month of online history each month until 24 months from now, then from that point forward there will be an ongoing 24 months (plus the current month).

What does this mean to my staff and my members?

As the volume of data starts to grow, staff will be able to go even further back in history when researching member inquiries. We’ll be able to develop new dashboards and analysis tools to see trends over a longer period of time. And members will be able to see and even download more transaction history when working with their accounts in online banking. All in all, a win-win-win for everyone!

What if I want (or already have) a longer retention than this?

As always, your credit union can opt to pay for longer retention for any product type (price to be quoted upon request). If you already pay for additional storage, your fee will automatically be reduced (or eliminated) on your next invoice, according to the number of additional months you are storing beyond the new 6/24 months described above. If you wish to change these arrangements, please contact a Client Service representative at csr@cuanswers.com.

Why is the CUSO taking this step?

The short answer: because we can. Data storage has become less expensive, and the processes by which data is displayed have been improved and are more effective today than ever before. We realize that most CUs will not use this extra historical data every day, but if the data can save you time for occasional special situations, we want to make it available. Think of it as a price reduction: more data for the same price.

The Product Configuration (Lending Functions menu (MNCNFB) #6-Loan Product Configuration) now allows you to enter rate board information necessary for marketing your credit cards* online through It’s Me 247 online banking.

Setting it up: The rate that appears to your members online comes from the configured “Variant” on the online banking page of the Loan Product configuration. It is also recommended that you enter only one term for online credit card products. And remember that you will still need to provide your standard credit card disclosure(s) to the applicants after they completing their application online.

Use this new application delivery channel to boost your loan dollars!

*The rate board supports marketing of online credit card products only. Contact gividendseftgroup@cuanswers.com and we’ll be happy to help you plan a move from an OTB (Off-Trial Balance) credit card portfolio to our online credit card product!

Refer inquiries to: gividendseftgroup@cuanswers.com.

We have another one planned for next month. Be sure to enroll now to learn more about offering Mobile Text Banking as a service to your members. Text Banking is currently live at 45 credit unions!

It’s Me 247 Mobile Text Banking Training
February 28th, 2012
3:00 – 3:30 PM
Cost: $20.00 (per web conference connection charge)
Enroll now

This class will also be featured in the upcoming Education Express Newsletter. Interested in receiving this email publication? Sign up for it and other publications: http://cuanswers.com/newsletters.php

The CU*OnTheRoad dial-up technology has become antiquated. VPN (Virtual Private Network) technology is being used as a standard by much of the financial industry for remote and mobile access. It provides communications over high speed networks (internet) and strong security through native encryption and multi-factor authentication. CU*Answers Network Services offer several managed VPN solutions that better address technical requirements for remote or mobile connectivity. CU*Answers Network Services Managed VPN solutions start at $49.00/month plus appliance purchase.

Alternatively, for credit unions utilizing CU*OnTheRoad for Disaster Recovery, CU*Answers Network Services offers Virtual Branch Disaster Recovery Services and the Data BP Business Continuity Solution. Virtual Branch facilitates a secure, encrypted CU*BASE GOLD session and requires only a high speed internet connection. This service can also allow connectivity to credit union server systems that are protected by a Data BP Business Continuity Solution and includes a fully documented annual recovery test. The CU*Answers Network Services Virtual Branch Disaster Recovery Service starts at $29.00/month plus a one-time activation fee of $250.00.

Contact for more information: netserv@cuanswers.com

In this session, you will learn:

• How the Call Center communicates with your staff
• How to receive and interpret leads and notices
• How to follow up on Call Center leads
• How to communication with the Call Center, if needed
• How to assure your members’ smooth transition from the Call Center to your branch contacts

We are offering three web conferences over the next six months, all of them free of charge.  The first one will be held on Thursday, February 2nd at 3:00 pm ET.

These sessions are short but powerful, a 30-minute Tracker “boot camp” training session with your partner, the Xtend Call Center.  Remember that there is no charge for Xtend’s 30-minute Tracker Boot Camp, but you must register in advance for any of these training sessions.  Subsequent training dates are available, if February 2nd isn’t convenient for you.

Audience:  Any branch staff involved in member facing; marketing, loan officer or sales staff at credit unions participation in the Free Call Campaign Program, Branch ST (formerly Member Reach Plus), or a variety of successful member outreach campaigns at Xtend.

Sign up now for Xtend’s CU*BASE Tracker Boot Camp.   Or register for other classes 24/7.

Haven’t  you heard? CU*Answers is sponsoring the FREE Call Program. We still haven’t heard from many of you. Don’t wait! For more information, and to sign up, please visit our website at http://www.xtendcu.com/member-reach/2012-free-call-campaign.