Request to Adjust Loan Account Due Dates

Responding to the Credit CARD Act

Request to Adjust Loan Account Due Dates

Revised: August 6, 2009

This is authorization for CU*Answers to perform batch maintenance on selected loan accounts and/or online credit card loan categories according to the instructions provided below. I understand that only current loans that will be adjusted and that it will be my credit union’s responsibility to manually adjust due dates and other fields on my delinquent loans, where appropriate. I acknowledge that it is my credit union’s responsibility to review all related Auto-Funds Transfer (AFT) records after the flood is done and make adjustments where required. I further understand that this flood will not affect new loans being created from this point forward.

Credit Union Name: / CU#:
Contact Name: / Phone #:
Special Instructions:

All Loan Types Except Online Credit Cards:

Instructions: Use this section for all loan types except online credit cards (Process Type V). Complete one row for every loan category you wish us to flood. See Page 4 for explanation of the columns. Remember that we will NOT change the due date on any loan that is delinquent (1 day or more past due) as of the day the flood is run, but those loans will appear on an exception report that your credit union should review. Because of the time and preparation work involved in the batch flood programs, if you have fewer than 100 loan accounts, please use CU*BASE Account Information Update programs to adjust due dates manually.

More rows are available on page 2>

Credit Union Name:

All Loan Types Except Online Credit Cards (continued)

/ / / / / / /
Loan Category Code / Category Description / Process Type Code
(except V) / Day # to Flood into the Loan Due Date
(i.e., 28th, etc.) / Includes loans if due date (day) already > Day #? / Create Tracker Note
(if Yes, specify Tracker Type / Memo Code) / Create $0 Memo Transaction? / Requested Date for Flood to Occur
Day #:
OR
Last day of month / Yes No
(Not applicable if using Last day of month) / Yes, please use
Tracker Type:
Memo Type:
No / Yes No
Day #:
OR
Last day of month / Yes No
(Not applicable if using Last day of month) / Yes, please use
Tracker Type:
Memo Type:
No / Yes No
Day #:
OR
Last day of month / Yes No
(Not applicable if using Last day of month) / Yes, please use
Tracker Type:
Memo Type:
No / Yes No
Day #:
OR
Last day of month / Yes No
(Not applicable if using Last day of month) / Yes, please use
Tracker Type:
Memo Type:
No / Yes No
Day #:
OR
Last day of month / Yes No
(Not applicable if using Last day of month) / Yes, please use
Tracker Type:
Memo Type:
No / Yes No
Day #:
OR
Last day of month / Yes No
(Not applicable if using Last day of month) / Yes, please use
Tracker Type:
Memo Type:
No / Yes No
Day #:
OR
Last day of month / Yes No
(Not applicable if using Last day of month) / Yes, please use
Tracker Type:
Memo Type:
No / Yes No
Day #:
OR
Last day of month / Yes No
(Not applicable if using Last day of month) / Yes, please use
Tracker Type:
Memo Type:
No / Yes No
Credit Union Name:

Online Credit Cards (Process Type V) ONLY:

Instructions: Use this section for online credit cards only. Complete one row for every loan category you wish us to reconfigure. See Page 4 for explanation of the columns. Remember that because of the unique properties of online credit cards, we will only be changing your configuration settings to reflect the new billing date. No dates on member account records will be adjusted. (Remember that unlike other types of loans, the system determines the statement due date automatically at end of each month when statement processing is done, according to the settings in Loan Category configuration.)

/ / / /
Loan Category Code / Credit Card Loan Category Description / Process Type Code / Day # for the
Monthly Billing Day field in the
Credit Card Loan Category / Make the change effective:
V / 28th (recommended)
OR
Other day (specify): / With the September Due Date
OR
With the October Due Date
V / 28th (recommended)
OR
Other day (specify): / With the September Due Date
OR
With the October Due Date
V / 28th (recommended)
OR
Other day (specify): / With the September Due Date
OR
With the October Due Date
V / 28th (recommended)
OR
Other day (specify): / With the September Due Date
OR
With the October Due Date
V / 28th (recommended)
OR
Other day (specify): / With the September Due Date
OR
With the October Due Date
V / 28th (recommended)
OR
Other day (specify): / With the September Due Date
OR
With the October Due Date
V / 28th (recommended)
OR
Other day (specify): / With the September Due Date
OR
With the October Due Date
V / 28th (recommended)
OR
Other day (specify): / With the September Due Date
OR
With the October Due Date

Explanation of Columns

Get this information from your loan category configuration (MNCNFB #1).

Use this to tell us what DAY you want to use in the due date for all loans of this type (such as the 28th), OR check the “last day of the month” option if you want to make payments due at the end of a month. We will use a day # that is appropriate for the month when the flood is being run (for example, in August we would use 31; in September we would use 30) and then setting the Payment Day field as needed to trigger the system to automatically adjust to the last day of the month. Remember that we are only changing the DAY, not the month and year, in the member’s next payment due date (so for loans paid ahead, the month would not change).

What should we do with loans that are already set to a day greater than your new due date choice? For example, if you choose the 28th as your new due date, and a loan already has a due date of the 29th, 30th, or 31st (last day of month), should we leave it alone or move it to the 28th also? Remember that since the month isn’t changing, you will actually be moving that member’s due date to an earlier date than it was originally (8/29/09 moves to 8/28/09, etc.).

For loans other than credit cards, choose Yes here if you want us to add a conversation note to a member Tracker record stating that the payment due date was changed. Also specify which Tracker Type code (such as MS for your Member Service Tracker, or AT for the Audit Tracker, or NT for the Notice Tracker, etc.) and a Memo Type code you wish us to use. If the member doesn’t already have a Tracker of that type, we will create one. If they have more than one, we will use the most recently-created Tracker on file for that member. (This option is not available for online credit cards, since we will not actually be changing any member accounts.) Important: We will write a record to the CUFMNT file maintenance log no matter what choice you make here, and all modified loans will appear on a report.

For loans other than credit cards, choose Yes if you want to post a $0 transaction record on the member’s loan account with a secondary transaction description that states the payment due date was changed with the new due date. (This option is not available for online credit cards, since we will not actually be changing any member accounts.) The transaction will appear as follows, with the appropriate dates filled in:

Primary transaction description: ** NEW DUE DATE **

Secondary transaction description: 06/10 DUE DATE CHANGED TO 06/30; NEW MONTHLY DUE DATE WILL BE ON THE 31ST

For loans other than credit cards, choose the date on which you want us to make the changes to your loan accounts. This may vary depending on the loan type and how the due dates fall in your current loan portfolio, among other factors. Important: Please allow at least 3 business days between the time when we receive your form and when you request your flood to occur, to allow time for the programming rules to be coded. So that we can monitor the process, floods can be done ONLY during our normal business hours.

For credit cards, tell us the first time the Statement Due Date (the one that prints at the top of the credit card statement) should use the new day. For example, if you choose For the September due date, then we will change your configuration during August and the credit cards statements that are produced on Sept. 1 will show the new, corrected due date for that month’s payment. Please allow us time to adjust your configuration properly: if choosing the September due date, we must have your request no later than August 25. For the October due date, we must have your request no later than September 25.

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