Navigation:  Deposits > Deposit Screens > Account Information Screen Group > Roll Schedules screen >

Certificate Rate and Term Schedule tab

Navigation:  Deposits > Deposit Screens > Account Information Screen Group > Roll Schedules screen >

Certificate Rate and Term Schedule tab

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Use this tab to set up a schedule of up to 10 roll events for a customer deposit account. The fields on this tab are used to automatically roll rates or rate and tier pointers and generate renewal and/or maturity notices for a customer account during the life of the certificate of deposit or rolling checking account (for example, rolling the account from a 12-month CD to a 36-month CD).

 

The system allows for up to 10 roll events for the user to specify on the customer account. This tab is only available if the customer account uses the certificate feature (the Certificate field on the Deposits > Account Information > Account Information screen is marked) and does not have a product code schedule currently set up on the Product Code Schedule tab. Features for individual customer certificate accounts can be adjusted on the Certificate Fields tab of the Deposits > Account Information > Additional Fields screen as well as the Certificate Fields field group on the Account Information screen.

 

Deposits > Account Information > Roll Schedules Screen, Product Code Schedule Tab

Deposits > Account Information > Roll Schedules Screen, Product Code Schedule Tab

 

If this tab is accessed for a renewable, nonvariable certificate account where no rate/term schedule has yet been established, the account's current Product Code, Rate, Rate Pointer, Tier Pointer and Term will be displayed in the first row of fields. Product codes must first be set up on the Deposits > Definitions > Product Codes screen before they can be used on this screen.

 

If the roll events being scheduled are tied to the values in the Term fields below, the Effective Date of each roll event will default based on the previous roll event's Term and Effective Date. For example, if roll event (Period) 01 has a Term of 6 months, and was effective on 01/01/2014, then the default Effective Date for roll event (Period) 02 will be 07/01/2014.

 

If a roll event is set up incorrectly, the error can be changed by simply typing over the incorrect data and clicking <Save Changes>. If a roll event is unwanted, it can be cleared by erasing each field in the row and clicking <Save Changes>. If an entire schedule is unwanted, it can be deleted by clicking the <Delete> button on this tab.

 

Retirement accounts (as designated on the Account Information screen) cannot be rolled to non-retirement accounts, and non-retirement accounts cannot be rolled to retirement accounts. If you roll an active customer overdraft account into a customer checking account that does not have the Overdraft feature (as designated on the Account Information screen) set, the overdraft feature will remain on the customer checking account that was rolled into. Unwanted overdraft features must be removed manually on this screen. Overdraft features can be adjusted for individual customer accounts on the Deposits > Account Information > Overdraft & Secured Loans screen. For the transaction, institution, and CIM GOLD features that pertain to the use of the overdraft feature, see the Overdrafting Conditions and Options help page.

 

The fields on this tab are as follows:

 

Field

Description

Status

 

Mnemonic:  N/A

These fields contain the current status of roll events on the customer account. These fields indicate whether the events are current ("CURR") or complete ("DONE"). Fill out the other fields on this tab and click <Save Changes> to create a roll event on the customer account.

Period

 

Mnemonic: CSCPRD

These fields contain the system-defined queue numbers of the roll events established on the customer account. Up to 10 roll events can be entered for different certificates (or the same certificate but with new terms). See below for more information.

 

For example, once the designated Term (see below) for a CD is reached, the customer chooses to automatically roll the principal and interest earned into a new CD at a better rate. The information for that roll would be entered on this tab. The initial roll event for which the customer deposited the money for the designated CD would be considered the first Period, so the system would display "1" in this field. If the customer wants to automatically roll the funds into another CD once the first CD has reached maturity, the system would enter "2" in the following Period field as the fields to the right filled with information.

 

Each time a CD matures and the amount is rolled over into a new CD, the system can create notices to send to the customer.

 

If roll events being scheduled are tied to the values in the Term fields, the Effective Date of each roll event will default based on the previous roll event's Term and Effective Date. For example, if roll event (Period) 01 has a term of 6 months, and was effective on 01/01/2014, then the default Effective Date for roll event (Period 02) will be 07/01/2014.

 

If a roll event is set up incorrectly, the error can be changed by simply typing over the incorrect data in the fields to the right and pressing <Enter>. If an entire roll event is unwanted, it can be cleared by erasing each field in the period and pressing <Enter>. If an entire schedule is unwanted, click the <Delete> button at the bottom of this tab.

Product Code

 

Mnemonic: CSPDCD

Use these fields to indicate the product code numbers and descriptions to which the customer account will be rolled when the scheduled rolls take place. If this field is different for each roll event, the product code entered will be used to roll the account based on the Effective Date, replacing all account defaults with the defaults of the product codes specified. Only valid product codes that have been entered through the Product Codes screen will be available to select in this field.

Rate

 

Mnemonic: CSRATE

Use these fields to indicate the interest rates to which the customer account will be rolled on the Effective Dates of the roll events. The values entered in these fields will override any other rate regardless of what Product Codes have been entered. See below for more information.

 

If this field is left blank, the rate will be calculated based on the Rate Pointer and Tier Pointer present on the roll event (or on the next roll event pointer, depending on other options entered on this screen). Rate pointers are ID numbers that specify an interest rate and tell the system if and when the rate for all customer accounts using the rate pointer will change. Rate pointers are designated for individual customer accounts on the Deposits > Account Information > Interest Fields screen and created on the Deposits > Definitions > Rate Table screen. Tier pointers must first be set up on the Deposits > Definitions > Rate Tiers screen before they can be used on this screen. Tier pointers are ID numbers that specify how the system should assess and pay interest based on customer account balance levels.

 

These fields are only file maintainable on customer accounts using the interest feature (the Interest field on the Deposits > Account Information > Account Information screen is marked). Interest features for individual customer accounts can be adjusted on the Deposits > Account Information > Interest Fields screen as well as the Interest Fields field group on the Deposits > Account Information > Account Information screen.

Rate Pointer

 

Mnemonic: CSRPTR

Use these fields to indicate the rate pointers to which the customer account will be rolled on the Effective Dates of the Periods. Rate pointers are ID numbers that specify an interest rate and tell the system if and when the rate for all customer accounts using the rate pointer will change. Rate pointers are designated for individual customer accounts on the Deposits > Account Information > Interest Fields screen and created on the Deposits > Definitions > Rate Table screen.

 

If these fields are left blank, the rate pointer on the customer account will remain unchanged at the time of the roll.

Tier Pointer

 

Mnemonic: CSTPTR

Use these fields to indicate the tier pointers to which the customer account will be rolled on the Effective Dates of roll events. Tier pointers must first be set up on the Deposits > Definitions > Rate Tiers screen before they can be used on this screen. Tier pointers are ID numbers that specify how the system should assess and pay interest based on customer account balance levels.

 

If this field is left blank, the tier pointer on the customer account will remain unchanged at the time of the roll event. At roll time, the tier pointer will be put on the customer account first.

Term

 

Mnemonic: CSCTRM

Use these fields to indicate the length of time that should pass before the current Effective Date and the time of the next roll in conjunction with the Term Type fields. These fields show the term that the customer account will be rolled to on the Effective Date. If these fields are left blank, the term on the customer account record will remain unchanged at the time of the roll.

 

Using this field is required when using the New Maturity field.

Term Type

 

Mnemonic: CSTMTP

Use these field to indicate the length of time that should pass before an Effective Date and the time of the next roll in conjunction with the Term field. Possible selections in these fields are:

 

D - Days

M - Months

Y - Years

 

Using this field is required when using the New Maturity field.

New Maturity

 

Mnemonic: CSNMAT

Use these fields to indicate whether new maturity dates need to be calculated on the customer account when setting up roll events.

 

There must be designated values in the Term and Term Type fields and Notice Only must be left blank in order to use these fields. Based on what is entered in the Term and Term Type fields, a new maturity date will be calculated. For example, if the Term is "60" and the Term Type is "M - Months," the new maturity date would be 60 months from the last maturity date. A maturity notice will then be created with all other normal maturity notices.

 

All options used on the M (mature) column of the product will take effect. Maturity features and product code options are set up on the Deposits > Definitions > Product Code screen.

 

If grace days are used on the selected Product Code, they will be applied to the customer account. This is also true of interest method and frequency changes.

Notice Only

 

Mnemonic: CSGNTC

Use these fields to indicate whether renewal notices will be generated for the customer account following the Effective Date. The New Maturity fields must be blank in order to use these fields. This tab is only available if the customer account uses the certificate feature (the Certificate field on the Deposits > Account Information > Account Information screen is marked) and does not have a product code schedule currently set up on the Product Code Schedule tab.

High Rate

 

Mnemonic: CSHIGH

Use these fields to indicate whether the system should store the rates that are being used to compare to the high rate. See below for more information.

 

Depending on the data present on this tab, the rate will be compared differently:

 

•If there are values entered in the Rate and Rate Pointer fields, the system will get the current Rate and Tier Offset from your institution's tables (on the Deposits > Definitions Rate Table and Rate Tiers screens), compare them to the Rate, then put the highest rate on the customer account.

 

•If there are values entered in the Rate Pointer fields but not the Rate fields, the system will compare the existing Rate on the customer account and the current Rate and Tier Offset from your institution's tables (on the Rate Table and Rate Tiers screens), then put the highest rate on the customer account.

 

•If there are values entered in the Rate fields but not the Rate Pointer fields, the system will compare the current Rate on the customer account to the values in the Rate fields, then put the highest rate on the customer account.

Effective Date

 

Mnemonic: CSEFDT

Use these fields to indicate the dates that the roll events set up with other fields on this tab are to take place. These fields must contain future dates for roll events (Periods) 2-10. This field in roll event (Period) 1 may contain a past date in order to enable current customer accounts to be set up.

 

If these fields are left blank, they will be defaulted based on what is entered in the Term, Term Type, and Effective Date fields of the previous roll event (Period) For example, if the first roll event (Period) has a Term of "6," a Term Type of "M-Months," and an Effective Date of 01/01/2014, then the default Effective Date for roll event (Period) 2 will be 07/01/2014. For roll event (Period) 1, the default value entered in this field will be the date the customer account was opened.

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