Here are sample functional requirements for the Credit Union RFP template:
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Teller Processing
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| Support on-line help screens for tellers. |
| Provide ability for tellers to perform multiple transactions without the need to re-enter the member's account again. |
| Provide ability to display account information including: current share balances, low share balance, net total low share balance to date. |
| Automatically prompt the teller whether a hold should be placed on the check (or not) for out-of-town or personal checks. |
| Provide a report listing teller transactions by type on a daily and monthly basis. |
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Inquiry Capabilities
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| Provide a single inquiry screen showing member's savings and loan account balances. |
| Support a search within the entire membership by member number ranges when looking for a specific number. |
| Provide ability to calculate and display a member's total available funds. |
| Provide ability to maintain unfavorable information on a member's account and display on a secured inquiry screen. |
| Provide ability to display or print selected member account transaction history for designated periods. |
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Shares
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| Support dividend computation monthly, quarterly, semi-annually, annually or at maturity. |
| Provide ability to compute share dividends by: variable rate per balance plateaus (e.g. on the plateau balances only, or the whole balance if desired.) |
| Provide ability to automatically prevent a transaction if the account balance drops below the share pledge amount. |
| Provide ability to close out a share account balance, calculate and disburse dividends to the close-out date, and transfer funds to another share type in one transaction. |
| Provide ability to establish additional share accounts with zero balances for an existing member. |
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Share drafts
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| Allow share drafts to be received and posted concurrently with teller operations. |
| Support overdraft coverage from shares, loans, and credit cards with ability to select the order of coverage. |
| Support charging a NSF fee for checks. |
| Support range stops as well as single stops. |
| Provide ability to accept electronic records of cleared sharedrafts from a designated clearing agency. |
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Loans
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| Support 360- and 365-days interest calculation. |
| Provide ability to transmit and receive information from credit bureaus. |
| Provide ability to process cash advance, open and closed-end loans. |
| Provide ability to produce finished documents including disclosures and notes. |
| Support reversal of payments made on the same day and make all needed adjustments of interest, principal, due dates and late charges. |
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Insurance
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| Provide ability to compute credit life and disability insurance. |
| Provide ability to set parameters for insurance premium charges for age, aggregate loan balance and payments. |
| Print and disclose credits and debits for single premium insurance on closed-end loans. |
| Display descriptions of premium charges on statements or in on-line history. |
| Support CUNA Mutual Insurance for credit life and disability premiums. |
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Certificates
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| Support dividend years of 360 and 365 days. |
| Support daily simple and daily compounding interest calculations. |
| Provide ability for the credit union to determine and change the length and amounts for minimum qualification of certificates without vendor assistance. |
| Automatically generate pre-maturity notices. |
| Provide ability to automatically calculate early withdrawal penalties. |
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Individual Retirement Accounts
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| Support share IRAs. |
| Support and track IRA payments to the prior and current tax year. |
| Support both employee and employer IRA contributions. |
| Provide ability to report members who have not contributed the tax year maximum contribution to their IRA accounts. |
| Maintain all beneficiary information for IRA accounts. |
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Payroll / ACH
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| Provide ability for a warehouse member to transfer transactions for processing on a cycle independent of payroll direct deposits. |
| Provide controls and checks against incorrect posting of payroll. Describe in comments. |
| Provide ability to distribute payroll to an unrestricted number of accounts. |
| Support ACH origination. |
| Provide ability to post ACH by individual batches, all batches for a particular day, or all debits/credits. |
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Marketing
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| Provide ability to generate a list of members with or without user-specified services. |
| Provide ability to generate report and mailing labels for all members who have a balance in a given range in a specified account type. |
| Support marketing questionnaire analysis. |
| Support spread analysis forecasting and modeling. Please describe in comments. |
| Provide ability to perform member account analysis to connect accounts and balances to efficiently bundle price and fee structures. |
| Provide ability to measure cross-sale activity and incentives for members and staff. |
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ATMs
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| Support ATM processing. |
| Support ATM card capture and negative files by credit union-designated parameters. |
| Provide ability for the credit union to restrict a member's ATM usage on a share account without hindering over-the-counter transactions. |
| Support networked Point-of-Sale (POS) terminals. |
| Provide ability to determine fee assessment based on ATM terminal ID. |
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Credit and Debit Cards
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| Support VISA and MasterCard processing. Describe in comments. |
| Support debit card processing. Describe in comments. |
| Support production of special statements for credit card transaction activity. |
| Support cyclical credit card statements. |
| Provide ability to adjust credit card payment grace periods without vendor assistance. |
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Branch Processing
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| Provide ability for a member to perform all transactions at all branches or are certain transactions restricted to the member's branch. |
| Provide ability to designate departments in the main office ù such as Accounting ù and/or branches for reporting purposes. |
| Provide totals on individual branches, several branches, or all branches. Does this include information on profitability. |
| Provide ability to run the system's start-of-day programs from a branch. |
| Provide ability to report totals for multiple, remote, dial-in branches which are operating concurrently. |
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General Ledger
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| Support a standard, multi-tiered credit union G/L chart of accounts. |
| Provide ability to limit branch access to the G/L. |
| Provide ability for journals to be effective dated to the preceding month. |
| Provide statistical, budgetary and managerial reports by branch or all branches. |
| Support a moving average on G/L account balances (e.g. report of balances from the 15th of one month to the 15th of the next). |
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Security
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| Provide ability for security levels to be assigned by position and by task. |
| Provide security levels for loan transactions that are different than those for other accounts. |
| Record and report unsuccessful sign-on attempts to a teller station. |
| Provide ability to combine the activity of one teller working at multiple workstations in the course of the day into one teller balance report. |
| Provide ability for a supervisor in the main office or in one branch to override a transaction taking place in another branch. |
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