Dormancy and Escheat Notices

This project will add three new notice events related to dormancy and escheat status.

  1. Pending Dormancy: The first notice event would be a triggered when a member is within a certain number of months from going dormant, to warn the member of impending fees and provide instructions on how to avoid the status change.
  2. Dormant: The second notice event would be triggered when a member actually reaches dormant status.
  3. Escheat: The third event would be triggered when the member has reached escheat status.

All three notices will be optional for the credit union to activate, by placing them on a CU-defined notice form. As with all our other notices, text for the form and all events will be CU-defined. All of the new triggers will be processed daily.

NOTE: We’ll also still create the monthly DIWARN file as we do now. This can be helpful if you wish to send other correspondence or do other outreach activities to members about to go dormant.

Once a notice form is set up by the CU, it will appear along with all other generated notices to be printed via Tool #653 Print Laser Notices.

Status as of March 2024: Proj#60503 is currently in QC testing and is being targeted for the 24.10 release.

 

Chef for this project:  Karen Sorensen

 

Updated
March 1, 2024

3 Responses to “Dormancy and Escheat Notices”

  1. Kaci Kamaloski

    We are looking forward to this project! We send out notices to members that are about to reach dormancy and we have to do it manually, it’s very time consuming. Thank you!

    Reply
  2. Roni Kasperek

    We have been waiting eagerly for this project. It will make the duty of handling dormant accounts so much more efficient. Hope to see this soon.

    Reply

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