SUB-ACCOUNTS

WHAT IS A SUB-ACCOUNT

A sub-account is a member account that has the same social security number as another account already on the system.

WHERE DO SUB ACCOUNTS APPEAR ON MONTH-END SHARE & LOAN LISTINGS

 These accounts are grouped together below the Primary Account on the Share & Loan List, and are NOT included in the Number of Members calculation.  System requirements are as follows:

• The Primary Account is always the lowest Account Number with this Social Security Number
• The Social Security Number MUST be an exact match to the Primary Account Number

WHAT IS THE PURPOSE OF SUB-ACCOUNTS

    Sub-Accounts are typically set up for one of the following reasons:

• Overflow of shares and/or loans when the member has more than 10.  
• Closed share types all on one account number to free up room on the primary account number until year-end.
• Member wants two of the same share type such as Christmas or Vacation Club.

HOW DO I SET UP A SUB ACCOUNT

• To set up a Sub-Account for your member do the following:
• In Program #3 enter the account number you wish to assign to the account and choose 'Y' to open a new account.
• In the Name field type 'Y/##### '(##### is the Primary Account number).  The system will bring all of the information in from the Primary Account automatically.

MOVING SHARES AND LOANS BETWEEN PRIMARY AND SUB ACCOUNTS

• If all 10 share types or loans are used on the Primary account, but some have been closed, you can move them to a sub account as follows:
• Use Program #42, Options D and E