Product Update: June 2024
6/1/24
Conservatorship and Rep Payee Fiduciary Accounts
Platform
DAO Branch Portal
Availability
Alpha stage
What is this feature?
You can now open Conservatorship and Rep Payee accounts via Branch Portal.
How to use?
Similarly to a minor account, this account requires two applicants: a protected and fiduciary person.
In case you need to verify documents, the MSR will need to collect and store them manually.
Important things to know
This account type is currently in Alpha Stage, so not all Credit Unions are eligible (yet!).
Reach to your implementation team for a Demo and they will be capable to asses if you are eligible.
Different Membership Group Selection
Platform
DAO Consumer Portal
Availability
All partners going live with DAO
What is this feature?
Support to chose an existing membership group or create a new one.
How to use?
When entering an existing member data, you will be prompted to select an existing membership group, which will be identifiable via member number, beneficiaries, joint applicants and number of accounts. You will also be able to create a brand new membership, which will require an eligibility criteria selection,
Important things to know
This setup is only valid for Credit Unions that allow their members to have multiple membership groups.
Account and Membership level booking of Beneficiaries/Joint Applicants
Platform
DAO Consumer Portal
Availability
All partners going live with DAO
What is this feature?
Joint Applicant and Beneficiaries can be added to specific levels of access, being specific account level or membership level.
How to use?
Once you arrive to the review screen, you will be able to see where you can add the Joint Applicant/Beneficiaries. They could be added to the whole membership or to a particular account.
Smaller features
Account Type Duplicate Prevention
Expansion to use account types on preventing account duplicates.