Presentation Transcript

1. CO-OP Shared BranchingShared Branching 101 January 2014
2. CO-OP Shared Branching Number of Shared Branches – over 7,100 locations and includes nearly 2,000 Vcom® Unit Kiosks at 7-Eleven® Guest Members of over 1,700 Credit Unions use shared branching today Over 218 million shared branching transactions were processed last year All 50 states have locations Including Puerto Rico and Guam Shared Branching is International with Military base locations in England, Italy, Germany, and Belgium Stand-alone branches may not have a credit union name associated with those locations
3. What is Shared Branching Outlets Call Center Outlet (866-MY CU NOW) Credit Unions owned Kiosks 7-Eleven® Vcom® Sprig Mobile, Text and Online (https://getsprig.com) How to find locations: www.co-opsharedbranch.org Apple and Android App stores 888-SITE-CO-OP Note: Not all branches of a credit union may be outlets, always refer to the locater tools
4. Name of your CU Their true account number Last 4 digits of their Social Security Number Verifiable Government issued, signed, valid, non expired, picture ID (name on ID must match the account). All account owners may perform transactions on owned suffixes with ID Non owners may perform deposits and payment, with ID What will your member need
5. Acceptable valid primary identification Must be Government issue, signed, valid, non expired, picture ID All identifications that meets the above criteria and are found in the I.D. Checking Guidewill be accepted Where to purchase the guide: Drivers License Guide Company, 1492 Oddstad Dr Redwood City CA 94063 orwww.idcheckingguide.com Student ID may be used for deposits only All Ids may be copied for documentation requirements Unacceptable Documents Power of Attorneys and Signature Guarantees Types of ID that are acceptable
6. Guest Member Card Front of card Back of card
7. Guest Member Card Inside of card
8. How the Network Works Guest member visits the Outlet location MSR inputs guest member CU name and account # Outlet’s Main Host System routes transaction to FIS or NGN and then to Host CU Host CU Authorizes and posts transaction Outlet’s Main Host System posts approved transaction Transaction routes back to MSR
9. Types of transactions available ALL Members can do the following: Deposits (both cash and checks) Vcoms do not take in cash Withdrawals (both cash and checks) CHECKS CAN NOT BE CASHED Loan Payments Loan Advances Account Inquiries Transfers Statement Prints/Recent Histories The following transactions may also be available: Money Orders and Traveler’s Checks – if available VISA or Master Card advances – if available Other Member services where available: Notary Services Photocopy requests Fax Services Coin services Gift cards
10. Funds Availability - Hold Policies Funds available to guest members are in accordance with the funds availability policy of their credit union THE OUTLET CANNOT and DOES NOT PLACE HOLDS. MSR’s responsibility is only to code deposited items/checks I = Immediate credit L = Local 10
11. Immediate credit items – code “I” U. S. Treasury Checks Federal Reserve or Federal Home Loan Bank Checks U.S. Postal Money Orders State or Local Government Checks if the acquirer (outlet) is in the same state as the payor of the check Payroll checks $2,500.00 or less Must be computer generated Must present paystub Paystub number must match check number Paystub amount must match check amount Word Payroll or paycheck may be preprinted commercially See Section 4.2A page 53 of the User’s Guide for full requirements 11
12. Personal checks, checks from other depository institutions (Cashier checks, teller checks, official checks etc.) Money Orders (Non U.S. Postal) Payroll checks – if they do not meet all the “Immediate” code requirements Payroll checks: If any “one” of the below criteria is met, it must be coded as LOCAL. If more than $2,500.00 If not computer generated If no paystub If paystub number does match check number If paystub amount does match check amount See Section 4.2A page 53 of the User’s Guide for “Immediate” requirements Local - Code “L” 12
13. Check Withdrawals Funds must be available at the time of the transaction and your computer system must approve the transaction $5.00 Check withdrawal fee applies Stop payments are done at the outlet Outlet issued checks (Cashiers checks, official checks, credit union checks etc) Member must follow outlet’s stop payment rules $25.00 stop pay fee applies 13
14. Cash Withdrawals Funds must be available at the time of the transaction Outlets must make available a minimum of $500 in cash with on-line approval from the host credit union system, unless the guest member wants less Outlet locations may give more than $500 in cash with on-line system approval from the host credit union Vcom can only dispense $500 per business day (Weekends are one business day) Credit Union owned Kiosks may only dispense $500 per business day (depends on location) 14
15. Disputes and Inquires All members must initiate inquiries, copy requests and transaction research or questions at their own CU CUs must work together to resolve issues and provide documentation to the members Copy and research fees may apply 15
16. Guest Member Fee Schedule The following fees are charged to the guest members at the time of service. 16
17. Guest Member Fee Schedule The following fees are charged to the guest members at the time of service. 17
18. Fees to FSCC Host Credit Unions Host Notification Services – faxing Host Credit Union Notification Fax Form $ 2.00/page (CTR, Red Flags and Mailed Drop Box Deposit) Loan Services Loan Application – faxing $ 10.00/ea Loan Application Interview$ 25.00/ea By Appointment only with Outlet: Loan Close/Distribution $100.00/ea Vehicle Inspection $ 25.00/ea Other Service Address Change Request $ 3.00/ea The following fees are charged to the member’s credit union. Outlet locations may not deviate from this fee schedule 18
19. Unruly Guest Members Depending on the extent of the guest member’s behavior MSR reports behavior to branch management If the guest member refuses to cooperate, service will be refused and the member will be asked to leave Primary/secondary contacts may be asked to block your member from all locations 19
20. Secret Shoppers FSCC performs year round secret shops on Outlet Locations Secret shop guidelines are provided by FSCC, refer to www.fscc.com for secret shop information or your branch manager 20
21. Helping your Guest Members find locations New Locator site - www.co-opsharedbranch.org One of the features of our new locator is that it is mobile-enabled. Members can enter the new URL onto the browser of their Smartphone and be brought to a fully mobile-enabled version of the locator. Phone Locator - 888-SITE-CO-OP 21
22. User’s Guide If in doubt, always refer to the User’s Guide. Rule Changes can occur twice a year, January and July. Make sure you know what Rules have changed and how they will affect service to shared branching Guest Members. Updates are available at www.fscc.com. Thank you for participating in this training. “Working together works”. Bits and Pieces