We currently send statements to our members on a monthly or quarterly basis as required. I've suggested that we reduce the statements to an annual basis for our inactive/dormant accounts as allowed by regulation. This would save us a large amount of money annually. Our IST department has informed management in charge of statements that they would need to manually update the statement group monthly to be able to do this. I do know that a FM script could do this automatically instead of doing anything manually, but if anyone else is sending inactive/dormant account statements on an annual basis I would love to hear from you how you do this, manually or automatically. If you do this automatically could you let me know what your credit union has done to do this.Thank you.I can be contacted directly at khodgkin@covantagecu.org
May 12, 2014 - 10:50am
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