Overdraft Maintenance

This information provides technical guidance for users on how to manage overdraft codes for individual member accounts within the FLEX System.

1. Overview of Overdraft Maintenance

Overdraft Maintenance is a core function that enables credit unions to define and manage how overdrafts are handled for member accounts. It allows for the assignment of specific overdraft codes to individual accounts and suffixes.

2. Accessing Overdraft Maintenance

Overdraft Maintenance can be accessed through two primary methods:

2.1. From the FLEX Main Menu

1. Navigate to the Share Drafts section.
2. Expand the options under Share Drafts.
3. Select Overdraft Maintenance.

2.2. From Share Maintenance (via Transaction Entry/Inquiry)

1. In Transaction Entry/Inquiry, locate the relevant member account.
2. Right-click on the share draft record.
3. Select Share Maintenance from the context menu.
4. Within the Share Maintenance screen, the “Overdrafting” section will be available, which mirrors the functionality of the Overdraft Maintenance program.

3. Key Features and Functionality

Once in the Overdraft Maintenance screen, users can perform the following actions:

3.1. Viewing Current Overdraft Codes

• Key in the member account and select the applicable draft suffix.
• The system will display the current overdraft code for the selected account and suffix.

3.2. Changing Overdraft Codes

• To modify the overdraft code, select a new option from the Overdraft Code drop-down menu.

• • Example Overdraft Codes:

• • • No Overdraft
    • Overdraft File
    • Shares Only
    • Loans Only
    • Shares and Loan, Shares First
    • Share and Loan, Loans First

3.3. Managing the Overdraft File (When Overdraft Code is “Overdraft File”)

When “Overdraft File” is selected as the Overdraft Code, a file of accounts must be built to specify the order in which accounts will be used to cover overdrafts.

• Sequence #:

• • Determines the order in which the system will look at accounts to cover overdrafts.
  • When adding new accounts to the overdraft file, assign a sequence number to define their priority.

• Account #:

• • Enter the account number that should be accessed in this overdraft sequence.

• Suffix:

• • Enter the specific suffix from the account number to be accessed in this overdraft sequence.

3.4. Available Actions within Overdraft Maintenance

The Overdraft Maintenance interface provides several action buttons:

• Save: Saves any changes made to the overdraft settings.
• Refresh: Updates the displayed information.
• Audit: Accesses audit logs related to overdraft changes.
• Add: Adds a new entry to the Overdraft File list.
• Edit: Modifies an existing entry in the Overdraft File list.
• Delete: Removes an entry from the Overdraft File list.

4. Courtesy Pay Information (within Share Maintenance)

The Share Maintenance screen also includes a “Courtesy Pay” section, which is related to overdraft functionality:

• Reg E Opt-In: Indicates whether the account is opted-in for Regulation E.
• Reg E Notice Date: The date the Regulation E notice was provided.
• Courtesy Pay Amount: The maximum amount allowed for Courtesy Pay.
• Courtesy Pay Enrollment Date: The date the account was enrolled in Courtesy Pay.