Open New Share Accounts

Shares and Certificates Shares/Certificates Open New Share Accounts

This document provides technical guidance for opening additional share accounts on an existing account within the FLEX system. The “Open New Share Accounts” functionality is accessible via the Teller menu in the FLEX Main Menu.

1. Overview of the Workflow

The “Open New Share Account” process follows a structured workflow displayed on the left side of the screen.

  • Configurable Options: The options presented in the workflow are configurable and may vary based on the type of account being opened.
  • Workflow Navigation:
    • Red Push Pin: Indicates the screen currently in use.
    • Green Check Mark: Denotes screens that have been completed.
    • Navigation Buttons: Use the Next and Previous buttons to move through the workflow screens.

2. Accessing the Feature

To access the “Open New Share Accounts” function:

  1. Navigate to the FLEX Main Menu.
  2. Select Teller.
  3. Choose Open New Share Accounts.

3. Workflow Steps

The typical workflow includes the following steps:

3.1. Account Lookup

This is the initial step where you identify the existing account.

3.2. Type/Suffix Selection

After entering the account number, three panels will display:

  • Suffixes Currently on Account:
    • Lists all existing share suffixes for the selected account.
    • Note: Loan and certificate suffixes are not included.
  • Select a Type:
    • Lists all available share types.
    • Click on the desired type to select it.
  • Select a Suffix to Open:
    • Once a type is selected, available suffixes for that specific type will appear in the lower box.
    • Only suffixes compatible with the current account will be displayed.

3.3. Deluxe Detect (Optional Module)

This module allows for requesting and receiving verification information from Deluxe.

  • Purpose: Used to determine if a potential member qualifies for a credit union account.
  • Reference: For more information, refer to “Deluxe Detect in FLEX Academy.”

3.4. ChexSystems® (Optional Module)

This module facilitates requesting and receiving verification information from ChexSystems.

  • Purpose: Used to determine if a potential member qualifies for a credit union account.
  • Reference: For more information, refer to “ChexSystems in FLEX Academy.”

3.5. Credit Score Maintenance (Optional Module)

This module allows users to run a credit report on an applicant.

  • Purpose: Performed prior to opening a new account.
  • Reference: For more information, refer to “Credit Score Maintenance in FLEX Academy.”

3.6. Open New Share

The options on this screen are dynamic and depend on the type of share suffix being opened (e.g., draft accounts will only display Courtesy Pay options and cross-reference information).

  • Suffix Info:
    • Share Type: Displays the share type chosen in the previous step.
    • Description: An optional field to provide an alternate description for the share suffix.
    • Courtesy Pay:
      • Indicates eligibility for Courtesy Pay on ACH and Draft transactions.
      • Options:
        • Yes: Suffix is eligible.
        • No: Suffix is not eligible (even if auto-enroll is configured and other criteria are met).
        • Override: Overrides the system’s auto-assigned amount; set the Courtesy Pay Amount manually.
        • Suspended: Courtesy Pay has been suspended.
    • Allow Priority Type Change: Check this box if the account type can be updated using the Priority Type Change program.
    • Dividend Payment Option: Select how dividends will be disbursed.
      • No Distribution: Dividends will pay to this suffix.
      • Transfer to Account/Suffix: Dividends will be transferred to a specified account and suffix.
      • Disburse Check: Dividends will be paid via check.
    • Dividend Account/Dividend Suffix: If transferring dividends, enter the target account number and suffix.
    • Referral Code Setup (Optional):
      • Referral Code: Used with the Cross Selling module to identify how a member was referred. This option is only available if the module is configured.
  • Suffix Level Reg E and Account Level Reg E:
    • Reg E can be tracked at either the account or suffix level. Suffix-level options override account-level options.
    • Reg E Opt-In:
      • Yes: Courtesy Pay and negative balance fees will post for ATM/debit card transactions causing negative balances.
      • No: Courtesy Pay services or fees will not be active for ATM/debit card transactions.
    • Reg E Notice Date:
      • System automatically checks this box once the Opt-in confirmation notice is generated.
      • If using a third party for notices, manually enter the date.
      • Important: A date must be entered for Reg E Opt-in to take effect and transactions to be approved.
  • Annual Distribution (Conditional):
    • This option appears only if the share type is configured for annual disbursement (e.g., Christmas Clubs).
    • Transfer or Check: Indicates how disbursement will occur.
      • No Disbursement: Funds remain in the suffix.
      • Transfer to Account/Suffix: Funds transferred to a specified account/suffix.
      • Disburse Check: Funds disbursed via check.
    • Account/Suffix Transfer To: If transferring funds, enter the target account number and suffix.
  • Draft Account Info:
    • Cross Reference Number: For draft accounts, this number is printed on checks to match them to the account.
      • Click to calculate the cross-reference number.
      • Reference: For more information, refer to “Calculate Check Digit in FLEX Academy.”
    • Guarantee Card Expiration: Indicates the expiration date of a check guarantee card (less common now due to ATM/Debit cards).
    • Courtesy Pay Amount:
      • If eligible immediately or override is selected, the Courtesy Pay amount can be entered here.
      • If Auto Update to Courtesy Pay is used and Courtesy Pay is “Yes,” the amount may initially be $0.00, indicating it will be awarded once the account meets configured criteria.
    • Overdraft Option: Select the immediate overdraft option for this account. This can be changed later in Share Maintenance.
      • No Overdraft
      • Shares Only
      • Loans Only
      • Share and Loan, Shares First
      • Share and Loan, Loans First
      • Overdraft File
    • Loan Suffix: Displays the loan suffix used for overdrafting, if applicable.
    • Share Suffix: Displays the share suffix used for overdrafting, if applicable.
    • Note: Courtesy Pay is always a last resort to standard overdrafting and is not listed as an Overdraft Option directly.

3.7. Joint Owner Maintenance

This step is used to add joint owners to the account.

  • Post-Account Opening: Joint owners can also be added later through “Joint Owner Maintenance.”
  • Reference: For more information, refer to “Joint Owner Maintenance in FLEX Academy.”

3.8. Beneficiary Maintenance

This step is used to add beneficiaries to the account.

  • Post-Account Opening: Beneficiaries can also be added later through “Beneficiary Maintenance.”
  • Reference: For more information, refer to “Beneficiary Maintenance in FLEX Academy.”

3.9. User Defined Field Maintenance (UDFs)

UDFs are credit union-defined fields for storing member information not covered by predefined system fields.

  • Purpose: To store custom information for a member.
  • Reference: For more information, refer to “User Defined Field Maintenance in FLEX Academy.”

3.10. Authorized Signer Maintenance

This step is used to add authorized signers to the account, commonly for business accounts.

  • Post-Account Opening: Authorized signers can also be added later through “Authorized Signer Maintenance.”
  • Reference: For more information, refer to “Authorized Signer Maintenance in FLEX Academy.”

3.11. Print New Member Card (Optional Module)

This is the final step in the “Open New Accounts” process, if configured.

  • Purpose: To print and archive the member card.
  • Availability: Only available if this optional module is configured.

3.12. Print Forms

This screen displays forms available for printing and managing signatures.

  • Default Forms: Displays a list of forms available for printing.
  • Form Details:
    • Once a form is selected, additional prompts may appear at the bottom of the screen for input based on the form’s content. Click the box next to each prompt to enter information.
    • Preview: Allows previewing the selected form before printing.
    • Print/Archive: Prints and archives the document. If signatures are required, the user will be prompted for each signature.
    • Add to Envelope: Adds the form to an eSignature envelope.
      • Reference: For more information, refer to “eSignatures in FLEX Academy.”
  • Pending Tab:
    • After a form is archived, if additional signatures are required, the form will appear under the Pending Tab.
    • Selecting the document will prompt for any signatures marked to “capture later.”
    • Reference: For more information, refer to “Capture Later in FLEX Academy.”

4. Completing the Process

  • Saving to Pending: The new account can be saved to Pending at any point during the process.
  • Finishing the Workflow: Once all necessary steps are completed in the “New Account” workflow, click Finish to finalize the “Open New Account” process.