ACCOUNT TYPES - the credit union can configure up to 99 different types of each account; chequing, savings, loans, mortgages, RRSPs, RRIFs, term deposits and HOSPs. Lines of credit can be overdraft or loan types. By the time the system is installed, we will have worked with management to configure each account type as required. In the future, credit union staff can add new types or change existing ones.
ATM/POS PROCESSING - interfaces currently available are Everlink Service Bureau, Threshold and Manitoba Central (Everlink).
AUDIT CONFIRMATION SYSTEM - this will provide the auditors with the opportunity to print confirmation letters, based on a selection criteria of their own choosing, at the credit union office. All master files can be downloaded to a PC-DOS readable format for the auditors use.
AUTOMATIC FUNCTIONS - some examples are: loan/mortgage payment transfers, CDI/CLI premiums, savings transfers, DICO, CUDGC and FSR reporting, capital shares transfers, rate changes, Safety Deposit Box payments, post dated cheque administration and re-occuring G/L entries. These can also be run on request. The offsetting G/L entries are posted automatically.
BILL PAYMENT PROCESSING - manual batch remittances or electronic associations can be established with The CUCO Bill Payment Club or Telpay for distribution. Vendor payments can be made on request or as an automatic transfer, at the branch, through telephone banking and internet banking.
BRANCH ACCOUNTING - multi-branch accounting and reporting is available if required. Reports can be automatically routed to the branches. The system can also be run with satellite branches.
CDI/CLI CALCULATIONS - premium calculations, enrollment forms and certificates, and any other forms required are produced by the system.
CRA FORM PRINTING AND ELECTRONIC FILING - Infonancial's system generated government forms (T5s, T4RSPs, T4RIFs, NR4s and RRSP Deposit  Receipts) are approved annually by CRA. Once all forms have been printed and reconciled, the CRA electronic file can be created, moved to a PC directory, and either Infonancial or the credit union can create the CD for submission to CRA.
CUIS CLIC - interface from the Infonancial system so that member information is completed automatically in CUIS CLIC.
CHEQUE/EFT PROCESSING - clearing and EFT items can be received electronically. Transfers from other savings/chequing account types can be done automatically to cover overdrafts. Service charges can be established.
CHEQUE CLEARING - by electronic file or manual batch.
CHEQUE PRINTING - credit union primary cheques can be printed while posting.
CHEQUE PRODUCTION - provide members with fully coded cheque orders while they wait. Member cheques (personal and business) are produced, with MICR encoding, using information from the master files.
DORMANT ACCOUNT ADMINISTRATION - a security access code is required for posting transactions to an account that has been dormant for an amount of time determined by the credit union. Dormant account notices are printed automatically. Service charges can be posted automatically to dormant accounts.
EMPLOYEE SECURITY - each employee is listed on the system, along with an employee number. Each employee is given access to the areas of the system which are necessary to perform his or her job. Management can change access at any time, and employees can change their security access codes at any time, without assistance. All changes to master files, overdrafts, etc, are recorded on the Status Change Log, and can be displayed or printed at any time, by account number or employee number.
EQUIFAX INTERNET INTERFACE - an interface is available that will connect the Infonancial system to Equifax by a secure internet service for the purpose of obtaining credit searches, from any workstation. The member name, address, birthdate and SIN will automatically update the credit check master. The credit search results will print to any networked printer, as requested by the operator when initiating the search.
FILE DOWNLOADING - this is a method of transferring information in text format (ASCII) from the system to a PC directory. The files can then be imported to applications such as Excel and Lotus. There are many files available, including Member Name & Address, balances by account type, statements, CUIS LS and Equifax Credit Bureau Reporting.
FORMS PRINTING - the system will produce forms using existing information from the master files and information keyed in by the operator. The system will create the form and fill in the fields at the same time, so preprinted forms are not required. Currently RRSP forms (such as the application, locking-in agreement, declaration of trust and subsequent deposit forms), RRSP official deposit receipts, RRIF forms, T5s, NR4s, T4RSPs, T4RIFs and membership forms (such as applications and operation of account agreements) are available.
GENERAL LEDGER - this will be set up with the accounts currently being used by the credit union, plus any additional accounts required by the system. Posting, financial statements, account statements, history files, budgeting, cheque reconciliation and re-occuring GL entries are maintained.
HISTORY - member and general ledger transactions can be moved to history files for each calendar year by credit union staff. These files are retained on the system and can be printed or displayed as easily as current information. Many years of history can be kept on the system.
INTERACTIVE VOICE RESPONSE - provide telephone services for members, using speech to text technology so no voice model is required. The voice is computer generated, and easily customized by the credit union. The following functions are automatically supplied:
- account balances
- bill payments, future dated payments, re-occurring payments
- calculations (for example daily interest, loan payments, foreign exchange)
- FAXREQUEST (members can request that a statement be faxed automatically to a specified number)
- general credit union information (for example hours and location)
- interest rate inquiries
- message centre for staff
- password changes
- transaction statement inquiries
- transfers, future dated transfers, re-occurring transfers.
INTERNET BANKING - internet banking permits members to access their accounts from any PC, supplying the following:
- account balances
- account statements
- account transfers
- bill payments, vendor setup, future dated payments
- cheque image retrieval
- email notices to members
- MS MONEY, QUICKEN, QUICKBOOKS and .csv file downloads
- password changes
- related account transfers
- transaction email alerts
- welcome message (basic HTML codes can be used by the staff for such things as font colour and size).
INVESTMENT PORTFOLIO - will assist in the administration and matching requirements for credit union investments. The Quarterly Repricing Report will include the investments and record them in the applicable row and time bucket, and shift accordingly as maturity dictates. The GL master includes a Quarterly Repricing field for assets and liabilities that are no-rate items, such as Accrued Interest, Fixed and Other Asset categories, to allocate these items to a row and box number for the Summary Gap Schedule and Calculation of Base Earnings Scenario.
JOB SCHEDULES - data processing and reporting for Start Day, Day End and Month End is set up in job schedules, for automatic processing. Along with mandatory jobs, these schedules can be designed by the credit union as required. When Day End is run at the end of the month and the end of the year, the system will automatically run Month End and Year End jobs.
LOANS ORIGINATION - will produce loan forms using existing information from the master files and information keyed in by the operator. Preprinted forms are no longer required as the system will produce the form and the inputs at the same time on blank paper. Standard and/or custom forms are available, including CUMIS, Canada Life, CMHC and government Land Registry forms.
MANUALS - user manuals will be supplied and updated annually. These manuals are also available on the Word Processor for personnel to access at any time.
PAYROLL DEDUCTION SYSTEM - distributions, balancing to the list and posting are all maintained on the system. If the employer can provide the listing as a batch file, we will configure the system to read it and copy it to the payroll distribution list.
PRINTERS - along with the main printer, additional small printers can be added to the computer system for printing such things as cheques, receipts, term certificates, rate inquiries, individual statements, envelopes and passbooks. A printer can be set up with letterhead for printing system letters, formatted letters and Word Processing documents. Once the system is configured for such printers, the applicable jobs will automatically be sent to the correct one. These printer options provide professional results while reducing the workload of the staff.
RELEASES - software releases are sent out to customers quarterly, containing any new options and improvements on existing items. Notes describing all changes and additions are included, which are also available on the Word Processor for personnel to access. All Infonancial credit unions always have the same, up to date software.
REMOTE DATA STORAGE - the credit union's data (including the main system, switch interface, INFO/NET banking and CUCO clearing/EFT service) can be simultaneously copied to a server at Infonancial's office and hot site. Infonancial will then provide a service whereby the credit union can access their data in the event of a disaster where the credit union is unable to access their own data equipment.
REPORT GENERATOR - along with the many reports available on the system, additional ad hoc reports can be designed and created by credit union staff. These can be for one-time use, used repeatedly and added to job schedules. Mailing label batches can be printed for accounts selected by the report. A comma delimited file can be created by the report for importing into such applications as Excel and Lotus.
REPORT RETENTION & RETRIEVAL - provides report storage. All reports and printing jobs are automatically copied to and stored in the spooler. Reports from automatic postings and job schedules will not be lost if there is a printer failure. Spooled reports will be archived indefinitely. The option is available to have only the totals page of a report printed and the bulk of the report stored, saving on unnecessary printing. Reports required for audit purposes do not have to be printed daily but can be stored and printed only when required. Several years of reports can be stored, and can be viewed and printed from any workstation. Spooled reports can be exported to a PC for use in other software packages.
SAFETY DEPOSIT BOXES - a Safety Deposit Box master file is set up for each unit at the credit union, indicating if it is available or including all relevent member information if it has been taken. Renewal fees are transferred automatically, and renewal notices printed automatically.
SYSTEM INQUIRIES - savings/chequing rates, loan/mortgage rates, term/RRSP/RRIF/HOSP rates, loan/mortgage payment calculations, interest calculations, foreign exchange calculations, CDI/CLI premiums and check digit calculations are all easily available.
SYSTEM TABLES - all Infonancial credit unions have the same software programs at all times. By utilizing system tables, the system is configured to your specifications and requirements. This enables you to easily add and change the services, information and rates offered to members, whenever you want. The credit union has the room and resources to grow with its members.
TELPAY ONLINE INTERFACE- Infonancial will provide an interface from Info/Net Banking to Telpay that includes member login, account balance and bill payment as well as posting programs, reporting and exception file processing.
TERRORIST FILES - The Office of the Superintendent of Financial Institutions (OSFI) publishes a listing of Terrorist Names and Organizations on their website. Financial Institutions are required to monitor their client base for any possible matches within their organization. This information can be downloaded from the internet and uploaded to the banking system. The OSFI Terrorist Report will then detail all possible matches on the system from the information downloaded from the internet.
TRANSACTION EMAIL ALERTS - members can receive transaction email alerts on account activity. On an individual account basis, the alerts can be configured to be sent for all transactions, for only ATM/POS transactions, and for transactions over a specified amount. After the setup is done, no operator intervention is required.
UNCLAIMED SAVINGS ADMINISTRATION - when an inactive account is closed and the balance is transferred to an Unclaimed Savings GL account, the member information can be copied into the unclaimed savings files so that it is not lost.
VERAFIN INTERFACE - the option is available for member and transaction data from the banking system to be provided to Verafin for their anti-money laundering and fraud detection application.
WORD PROCESSOR - the Infonancial Word Processor is fully integrated with the rest of the software. It can be accessed from any workstation, and all terminals can use it at the same time. Formatted and system letters can be configured for automatic printing by the system, without having to enter information such as the members name and address and account information for each letter (for example, delinquent loan letters, mortgage rate change letters, age based letters, Safety Deposit Box renewal notices and welcoming letters for new members). The user manuals and release notes are kept up to date on the word processor for staff to access. All documents can be exported to a PC for use in other software packages.
WRITTEN OFF LOANS - loans and mortgages can be easily transferred from an existing type to the written off type. These off-balance sheet loans and mortgages continue to accrue interest and will be exempt from DICO reports, however can still be posted to.