TOPIC: Savings Accounts

Converting Passbooks-Statement Cutoffs

Employee at a bank ($634MUSA)
Hello, we are in the process of converting our passbook savings accounts to statement savings accounts. We have already notified our customers and provided the appropriate disclosures but we are trying to determine how much history we need to provide to them as a final "statement" before the accounts are converted. We don't currently provide statements on passbook accounts.

    Contacting your customers/members

    Employee at a credit_union ($291MUSA)
    We are looking at different avenues for contacting members/customers regarding transactional info on their account; not marketing.  We have some that are not responding to mailed letters or phone calls regarding their dormant accounts and we are considering emails.  We have read the CAN-SPAM reg and will not be marketing to them and will still include the option to "opt out".  We have staff that want to use facebook messenger, but I don't feel social media messaging is the way to go.  Do you use any social media messaging to contact your members?  Do you have a sample of your authorization that your customer/members sign?  We will be running this by legal, but wanted to see what others are doing as we update our policies and procedures. 

      BancPac Deconversion Cold Reports

      AVP at a bank ($421MUSA)
      Hello! We are converting from FIS BancPac to JHA Silverlake. We are going to have our Test Week in October. We did not contract for a "static bank" for test verification. Would anyone be able to assist me with identifying the reports we would use from FRM/Vision?

        debit issued as a draft

        AVP at a credit_union ($175MUSA)
        I was wanting to see what other Credit Unions are doing when a member only has a saving suffix, but a debit is issued as a draft to their account.  ie- you call over the phone to make some kind of payment and the company issues an electronic draft.  Do you post to the savings or return do to the fact that the member does not have a draft account?  My accounting department is split on how they have been handling them.

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