The Certificate/IRA Processing Module provides your credit union with an efficient means to offer savings and retirement products with longer duration's. A fully integrated module, Certificate/IRA provides all the tools, controls and reports to manage this generally higher yielding member investment. Certificates and IRAs support 99 different types, permitting multiple savings opportunities to be offered to your membership. Essential information is entered once, through teller posting, into the certificate master file. This file consolidates all data including date opened, account type, interest rate, maturity date, and interest amount fields.

Special support for IRA's includes the ability to distinguish between prior and current year contributions. Transaction codes for SEP and DEC contributions and excess withdrawals perfect the audit trail. The Certificate/IRA Module can automatically disburse funds once retirement age has been reached.

Certificate Benefits Summary:

• Seamless integration with Share/Loan Module
• Fixed length durations
• Automatic Rollover Posting
• Fixed and Variable Interest Rates
• Regular Share Type Certificates
• New Certificate Receipts (T-I-S)
• Accrual reporting on-screen
• Automatic interest calculation
• Context sensitive help
• Unlimited interest rates
• Unlimited time durations
• Transaction receipts
• Certificate Form Printing
• Maturity Notices
• Daily dividend compounding

IRA Benefits Summary:

• Full support for following IRA's
  • IRA
  • SEP
  • Simple
  • Roth
  • Roth Conversion
  • Education
• Automatic Tax Withholding
• Withdrawal Reason Codes
• Beneficiary Input
• Full support for 5498 and 1099R Reporting
• Unlimited interest rates
• Unlimited time durations
• Automatic Disbursements at ages 55 and 70
• Fixed and Variable Interest Rates
• Tracks current and prior year contributions and distributions
• Daily dividend compounding