Generating Loose Coupons

Portico generates loose coupons once a week on Friday under the following circumstances:

• The Last Produced field in the Coupons group box is blank on the Account Information – Loans – General tab.
• New cash paid loans.
• Payment amount changes on the Account Information – Loans – General tab.
• Member’s full name on the Account Information – Loans – General tab or account number changes.
• Click Order Coupons on the Account Information – Loans – General tab.
• Due date change (610 Report only).

Loose loan coupons produced using the 610 Report can be sent directly to the credit union annually, semi-annually, or for the term of the loan. To set up loose coupons, set up the 610 Report Rules. On the Loan Profiles - Account Information tab, select coupon option 1 for loose coupons and option 4 for loose term coupons. The 612 Report displays who received loose loan coupons. Labels produced via the 611 Report must be setup on the 610 Report Rules.

Payment notices for cash-paid loans only or for all payment methods: cash, payroll, and auto transfer can be produced using the 650 Report. To set up a payment notice, set up the 650 Report Rules. On the Notice Messages window, create message N01. The 650 Report will only produce notices for loans if the Do Not Generate check box is not selected on the on the Account Information – Loans – General tab.

To set up a term notice, set up the 640 Report Rules. The Frequency drop-down field must be Single Pmt/Term on the Account Information – Loans – Payment tab. The term notice will request a payment for the entire loan balance.

If you switch a loan to cash-paid from payroll-paid, auto transfer or transfer file, you must click Order Coupons for coupons produced via the 610 Report.