A Different Level of Courtesy PayOverdraft Advance is a software tool to help your credit union manage accounts that become overdrawn. Overdraft Advance will access information from your host software on a daily basis, process that information, and track the progression of overdrawn accounts. Reviewing the reports that are produced daily from Overdraft Advance allows you to monitor accounts that are overdrawn. Letters are automatically generated that can be sent to account holders to remind them of their account status and of your expectations. Overdraft Advance is a complete overdraft management solution.
- Reminder letters to send to holders of overdrawn accounts. You can customize the wording of these letters as you see fit. You can also have the letters sent at desired intervals.
- A set of reports that will give you the information needed to keep track of overdrawn accounts. You have the option to display the reports on the computer screen. You also have the freedom to print the reports that are most beneficial.
- Automatic handling of accounts that are overdrawn within the time period set by you.
- A recommendation report that suggests how to handle each NSF item. This report makes the decision process much easier and saves you time.
- Inquiry and maintenance screens for all the information used by Overdraft Advance.
- The look and feel of other Windows programs. Overdraft Advance allows more focus on the job, not on the software.
- All changes to the data are noted. You can inquire on all maintenance completed, and there is a maintenance report that can be printed on a daily basis.
- User level security allows the administrator to tailor each user's access.
Developed, Supported & Enhanced IntegrationMEA will work, in tandem, with your core provider to create a comprehensive interface between MEA and your software. MEA continues to work to enhance the functionality of Overdraft advance.
Streamlined NSF/OD ProcessingOverdraft Advance is able to streamline the entire NSF/OD process. Pertinent changes of member information are transferred from core provider to MEA daily so that no double maintenance is required. MEA receives each NSF/OD transaction for tracking. MEA coordinates all installation processes and each new client receives the best possible courtesy pay solution.
Onsite ImplementationA new installation is coordinated by an experienced professional that spends 7 days in the credit union. Two trips are made to each credit union consisting of a 2 day planning and education session followed by a 5 day live install. Educating all credit union employees and working with the back office staff for 5 days provides a smooth transition to Overdraft Advance for both employees and members.
Employee EducationTraining classes are designed and scheduled to fit the needs of the credit union. All employees attend a one hour session and receive detailed materials on how the program will be administered. Employee education is the key to overall success when installing Overdraft Advance.
Member Education CampaignOne of the keys to a successful courtesy pay program is member education. A comprehensive education program that operates inside NCUA guidelines is part of every solution that MEA installs.
Policies & ProceduresEach new client is provided electronic versions of both policy and procedures that are 98% complete. These documents are continually monitored and updated by MEA and have been thru over 100's of regulatory reviews at our client sights.
Higher Average Daily Balances MEA provides technical and program support from 7:00am to 7:00pm Monday – Friday. Customer base conference calls are done periodically to monitor the success of the program.
Regulatory ComplianceMEA works with client credit unions, legal advisors and all available regulatory resources to insure that our program is in compliance. Regulatory updates are provided, through a quarterly newsletter, to each client.
Program & Software SupportMEA provides technical and program support from 7:00am to 7:00pm Monday – Friday. Quarterly conference calls are scheduled and completed to track the success of Overdraft Advance.
Proven Track RecordWith over 40 years of experience serving the Finance Industry, 5 years of successful business operation and more than 225 credit unions utilizing Overdraft Advance. MEA is a leading provider of courtesy pay programs. By coupling our experience we are able to provide the most complete and seamless courtesy pay program to credit unions.
Software & Service Highlights
Credit Union Defined SystemAll software options are defined by each credit union. Program parameters, wording on letters/notices and intervals for sending member correspondence are credit union defined.
Automated Member TrackingWhen a member's account becomes overdrawn the software begins tracking the number of days overdrawn for sending out the appropriate reminder letters. Letters are also sent when the account receives the privilege or the privilege is revoked. The first time an account with the privilege is overdrawn the system will generate a letter outlining the member's responsibilities. The courtesy pay privilege is automatically revoked by Overdraft Advance if an account exceeds either the maximum number of days an account can be negative or if the member has a past due loan that is delinquent beyond the program tolerance. All member correspondence is tracked in a history file and can be emailed if the member desires.
Report Management All reports generated by the system can be user defined to print to any network printer as well as be formatted to be sent to optical report storage.
Risk Management ReportingAs part of Automated Member Tracking an array of management reports can be generated to monitor and assess potential exposures at both the account and program level.
Once Daily NSF/OD Notice The notices are produced that contain all overdrawn transactions for an account in one clear and concise format with user defined verbiage.
User AdministrationEach employee that has access to the Overdraft Advance software will have individually defined authorities when using the system.
Automated Online Processing For online clients daily processing is completed automatically. Daily printing of reports and notices are the only processing steps that must be completed by a credit union.
Server LocationIn-house customers normally use an existing server to house the Overdraft Advance software.