Share Priority Type Change

Shares and Certificates Shares/Certificates Share Priority Type Change

This document provides technical guidance for utilizing the Share Priority Type Change functionality within the FLEX system. This feature allows for the automated conversion of member share accounts from one type to another based on predefined conditions.

1. Overview

The Share Priority Type Change program is designed to facilitate the automatic conversion of share account types. This is particularly useful for scenarios such as:

  • Age-based conversions: Automatically changing a child’s base share account to a regular share type upon reaching a specific age (e.g., 18 years old).
  • Relationship Pricing integration: Allowing members who qualify for specific relationship groups to switch to new share types (e.g., Reward Checking).

2. Accessing Share Priority Type Change

The Share Priority Type Change utility is located within the System Administration section of the FLEX Main Menu.

  • Navigation Path: FLEX Main Menu > System Administration > System Utilities > Share Priority Type Change.

3. Managing Priority Type Change Records

Upon accessing the Share Priority Type Change screen, all existing Priority Type Change records will be displayed.

  • Viewing Records: The main screen lists records with the following columns:
    • Priority
    • New Type
    • Default
    • Look For Types
  • Editing Existing Records:
    • Highlight the desired record.
    • Click the Edit button.
  • Creating New Records:
    • Click the Add button.

4. Configuring a Priority Type Change Record

When adding or editing a record, the “Edit Priority Type Change” screen will appear, allowing you to define the conditions and outcomes of the share type change.

4.1. Type Information

  • Priority:
    • Determines the order in which the system evaluates multiple records.
    • The system uses “OR” logic between different priority sequences.
    • Within a single priority record, “AND” logic applies, meaning all defined requirements must be met for the change to occur.
    • Example: If Priority 10 is not met, the system proceeds to Priority 20, and so on.
  • Types to Change:
    • Specify up to 10 existing share types that the system will “look for.”
    • Accounts matching any of these types will be considered for conversion.
  • Default:
    • This becomes the default share type the program will use for evaluation.
    • The system verifies all other requirements against this default type before initiating the change to the “New” type.
  • New:
    • Represents the target share type to which the account will be converted if all requirements are met.
  • Notice Code:
    • Select a notice code from the drop-down menu if a notice should be generated upon a successful type change.
    • Leave blank if no notice is required.

4.2. Minimums

This section defines minimum balance requirements for various account types.

  • Share Balance:
    • Indicates a minimum balance required in share accounts.
    • If left blank, no minimum balance is required for share types.
    • Include 0: If checked, the share balance must be zero or greater (negative balances will not meet this requirement).
    • Method: Determines how the minimum balance is calculated:
      • A = Average daily balance
      • C = Current balance (as of program run time)
      • L = Low balance for the period (if used, it’s recommended not to combine with other share suffixes on the same priority record; use another priority if necessary).
    • Included in Combined: Specifies which share balances are considered for a combined balance requirement:
      • N = Only consider the share type being changed.
      • Y = Consider all share balances.
      • X = Consider all share balances except the share type being changed.
  • Loan Balance:
    • Indicates a minimum balance requirement for loans.
    • If left blank, no minimum is required.
    • Include 0: If checked, the loan balance must be zero or greater.
    • Method:
      • A = Average daily balance
      • C = Current balance
    • Include in Combined:
      • N = Do not include loan balances for combined.
      • Y = Yes, include all loan balances for combined.
  • Cert Balance:
    • Indicates a minimum balance requirement for certificates.
    • If left blank, no minimum is required.
    • Include 0: If checked, the certificate balance must be zero or greater.
    • Method:
      • A = Average daily balance
      • C = Current balance
    • Include in Combined:
      • N = Do not include certificate balances for combined.
      • Y = Yes, include all certificate balances for combined.
  • Comb. Balance:
    • Indicates a combined minimum balance required, if applicable.
    • Include 0: If checked, the combined balance must be zero or greater.

4.3. Requirements

This section defines additional conditions for the share type change.

  • Required:
    • At least one of the entered “Types to Change” must belong to a member’s account for the change requirements to be met.
  • Age From/To:
    • Specify an age range that the member must fall within for the change to occur.
  • Relationship Group:
    • If the Relationship Pricing module is in use, define a specific relationship group that the member must belong to.
  • Change Type Even if Any Share Balance is Negative:
    • Check this box to allow the type change even if any share balance associated with the member’s account is negative.
  • Allow Change Within Grace Period:
    • Check this box to permit the change within the grace period, as defined in the Minimum Balance fee within Share Type Configuration.

4.4. Direct Deposit

This section defines direct deposit requirements for the share type change.

  • Direct Deposit:
    • Indicates whether a direct deposit is required for the type change.
    • A = ACH
    • P = Payroll (paper payroll)
    • B = Both ACH & Payroll
    • N = No direct deposit is required.
  • Minimum Amount:
    • If direct deposit is required, define a minimum amount. This is used in conjunction with the “Made Within # Days” field.
    • The system reviews the member’s account history to verify if the minimum amount has been received within the specified number of days.
  • Made Within # Days:
    • Used with “Minimum Amount” to determine if the minimum direct deposit amount was received within the defined number of days.

5. Running the Change Program

Once priority records have been created and configured, you can run the change program using either the Worksheet or Post options.

  • Worksheet:
    • Provides a preview of the changes that will occur if the program is posted.
    • FLEX highly recommends running the worksheet before posting any changes.
  • Post:
    • Actually implements all the defined share priority type changes.
  • Daily Procedures: This option may also be set up in Daily Procedures for automated execution.

6. Confidentiality Notice

This document is published by Computer Marketing Corporation/FLEX and is intended solely for its contracted clients. It may contain information that is privileged, confidential, or otherwise protected from disclosure. Dissemination, distribution, or copying of this document and any accompanying attached information by someone other than the intended recipient(s), or an employee or agent acting on behalf of the intended recipient, is strictly prohibited.