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.
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Provide ability for tellers to perform multiple transactions without the need to re-enter the member's account again.
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Provide ability to display account information including: current share balances, low share balance, net total low share balance to date.
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Automatically prompt the teller whether a hold should be placed on the check (or not) for out-of-town or personal checks.
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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.
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Support a search within the entire membership by member number ranges when looking for a specific number.
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Provide ability to calculate and display a member's total available funds.
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Provide ability to maintain unfavorable information on a member's account and display on a secured inquiry screen.
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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.
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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.)
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Provide ability to automatically prevent a transaction if the account balance drops below the share pledge amount.
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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.
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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.
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Support overdraft coverage from shares, loans, and credit cards with ability to select the order of coverage.
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Support charging a NSF fee for checks.
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Support range stops as well as single stops.
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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.
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Provide ability to transmit and receive information from credit bureaus.
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Provide ability to process cash advance, open and closed-end loans.
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Provide ability to produce finished documents including disclosures and notes.
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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.
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Provide ability to set parameters for insurance premium charges for age, aggregate loan balance and payments.
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Print and disclose credits and debits for single premium insurance on closed-end loans.
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Display descriptions of premium charges on statements or in on-line history.
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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.
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Support daily simple and daily compounding interest calculations.
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Provide ability for the credit union to determine and change the length and amounts for minimum qualification of certificates without vendor assistance.
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Automatically generate pre-maturity notices.
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Provide ability to automatically calculate early withdrawal penalties.
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Individual Retirement Accounts
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Support share IRAs.
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Support and track IRA payments to the prior and current tax year.
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Support both employee and employer IRA contributions.
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Provide ability to report members who have not contributed the tax year maximum contribution to their IRA accounts.
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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.
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Provide controls and checks against incorrect posting of payroll. Describe in comments.
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Provide ability to distribute payroll to an unrestricted number of accounts.
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Support ACH origination.
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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.
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Provide ability to generate report and mailing labels for all members who have a balance in a given range in a specified account type.
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Support marketing questionnaire analysis.
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Support spread analysis forecasting and modeling. Please describe in comments.
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Provide ability to perform member account analysis to connect accounts and balances to efficiently bundle price and fee structures.
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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.
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Support ATM card capture and negative files by credit union-designated parameters.
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Provide ability for the credit union to restrict a member's ATM usage on a share account without hindering over-the-counter transactions.
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Support networked Point-of-Sale (POS) terminals.
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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.
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Support debit card processing. Describe in comments.
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Support production of special statements for credit card transaction activity.
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Support cyclical credit card statements.
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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.
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Provide ability to designate departments in the main office ù such as Accounting ù and/or branches for reporting purposes.
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Provide totals on individual branches, several branches, or all branches. Does this include information on profitability.
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Provide ability to run the system's start-of-day programs from a branch.
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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.
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Provide ability to limit branch access to the G/L.
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Provide ability for journals to be effective dated to the preceding month.
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Provide statistical, budgetary and managerial reports by branch or all branches.
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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.
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Provide security levels for loan transactions that are different than those for other accounts.
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Record and report unsuccessful sign-on attempts to a teller station.
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Provide ability to combine the activity of one teller working at multiple workstations in the course of the day into one teller balance report.
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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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