We are revamping the process for scheduling rate/tier changes for savings products from Tool #506 “Member Rate Maintenance”. The flow through the Savings/Checking Rate Maintenance screens will be much more user-friendly with appropriate edits/error messages along the way.

Here are improvements you can look forward to:

• Ability to schedule multiple future rate changes with different effective dates
• Include a description for each pending rate change
• Single effective date for rate tier changes to eliminate confusion (can no longer accidentally change rates for different tiers on different days, or forget to include a tier)
• Dividend Application Configuration Report will have separate report listing pending rate changes and existing “general” report will be enhanced to include more information
• Dividend Rate Change History screen will be revamped to make it easier to use
• New view-only dashboard to see a list of all scheduled pending rate changes by product

Note: There is no change to when scheduled rate changes will take effect, which occurs during your credit union’s configured timing for daily dividend monitoring (most commonly during end-of-day processing).

Included with this project (not related to scheduled rate changes), we are improving the method for sequencing the products for display on the Share Rate Board in online banking.

New Workflow for Savings/Checking Rate Maintenance

The first screen from Tool #506 “Member Rate Maintenance” will be similar to today, listing deposit products with options to view rate change history and update procedures and/or marketing tips.  You will no longer maintain rate information on this initial screen.

To schedule changes, you will use a new “Rate/Tier Changes” option from the initial screen which presents a subfile list of existing pending rate changes for the product. If no scheduled rate changes exist, a message at the top of the screen will indicate no pending rate changes.  From here a new rate/tier change can be added or an existing one maintained or deleted.

The subsequent “Add/Maintain Rate/Tier Changes” screen will display existing rate information on the bottom left section of the screen and the right section is where the new rate/tier information is entered.  There will be appropriate edits, for example, not allowing a rate change if already scheduled for that day, not allowing a pending rate change more than a year in the future, etc.   Once Save/Update is used, an enhanced version of the existing “Update Dividend Rates by Effective Dates” report will generate.

Sequencing Products for Display in Online Banking Defaults

You will no longer sequence the products for display in online banking directly on the initial Rate Maintenance screen.  Instead, a new screen “Maintain Online Banking Sequence” will be developed that will make it much easier to organize and re-sequence how your products appear to members in online banking.  This screen will list only the products that are set up to display in online banking along with the sequence number.

Status as of 1/7/26: Specifications are in process

Your chef for this recipe:  Karen Sorensen