Using CU125



Detailed Instructions:

We recommend you reference these instructions while completing the program. When you open the program, you will be required to enter your insurance number and your check digit number (same numbers you use for the 5300 Call Reports). Use the key and keys to navigate through the system. Once you have logged in, you will be at the main menu screen. As you go through the menu screens, you will note that much of the information for your credit union is already completed according to our records. Please thoroughly verify all information and update and change as needed.

Main Menu

The opening screen displays the Main Menu’s 10 buttons, one for each step to follow. To select a particular step, use the key or use your mouse & cursor to click on it.

Completing each Menu option

To start, click on the first button (Credit Union Information) and after entering or verifying the information on this screen, click on “NEXT” to go to the next screen. For each of these forms, the data is saved when the “Next” button is selected. When you click on the “NEXT” button on the last screen, Books, Phone, & Email, it will take you directly to the Error Checking screen. If you are ready to check for errors, continue. If not, click on the Main Menu button.

through the fields

For each of the screens, use the key or keys to move from field to field, or to move to the previous field. Also, to edit any particular field on the form, simply click on the field with your mouse.

CU Name and Address

Enter or verify the year this report is being filed for, the Credit Union’s share insurance number, the full credit union name (do not abbreviate unless the CU’s official name is abbreviated), physical address, and mailing address. Please note: the zip code is formatted for 5-digits only and will create an error message if you attempt to insert or leave the – plus 4 digits. Therefore, if you have a zip plus 4, please delete the dash and additional 4 digits. In addition, if the mailing address is the same as the physical address, please check the box located in the center of screen. Click the “NEXT" button to continue and save the information.

Day-to-Day Official

Enter or verify the information. This should be the person that handles the day-to-day operations of the Credit Union (President/Manager/CEO). Click the “NEXT” button to continue and save the information. Please do not list the Chairman of the Board unless he or she also holds the position of day-to-day Official of the Credit Union.

Member Information

For ease in review, you can use the quick print preview function by clicking “Here” at the top of the screen. This will bring up a “print preview” of page 1 of the form.

Next, review the list of Board Members. If any member is no longer on the Board, highlight the member by clicking on it with your mouse, then click on “delete member”. To add a member, click on “Add Member” in the center of the screen, and enter all data as required. Please note: you will also use the “Add Member” function for any member who is on a Committee, but NOT on the Board of Directors.

Due to space limitations, please DO NOT use all Upper case letters. Please be sure to include an honorary title (Ms., Mr. Etc.).

The Term/Year field is for credit unions that have staggered terms for their Board of Directors. It is programmed to default to the current year. If your credit union has staggered terms, please indicate in the Term box, the number of term years still remaining for that Director. If your credit union does not have staggered terms, please put 1 (year) in for the Term.

You must indicate the person’s position on the Board of Directors. Do not type anything into the position box; choose one of the following from the drop down list: Chairman, Vice-Chairman, Secretary, Treasurer, or Member.

If a person holds two or more positions on the Board of Directors simultaneously, (for example Secretary and Treasurer) from the Board Position(s) dropdown lists, choose Secretary in the first box, and Treasurer in the second. If a person only holds one position, select their position from the list on the left, and leave the one on the right blank. If someone holds the position of Chairman, Vice-Chairman, Secretary, Treasurer, you do not need to indicate they are also a “Member”.

For EACH member of the Board and all Committee members, you MUST click on each member, and click on “Update Member”. Verify and/or update any information for that member, then click “NEXT”. Repeat this process for each member on the Board and any Committee Members (who are not Board Members). You MUST “Update” each person to activate him or her for the current year. Once a member is updated, an * will appear next to their name.

For any Committee Members who are NOT on the Board, please complete the mailing address, & phone number information. This information is now required. Once each member has been “Updated” and an * appears next to all names, click the “NEXT” button to continue and save the information.

Bylaw Data

The information listed is according to our most recent records and according to your Credit Union Bylaws. If a bylaw amendment has recently been submitted, the change may not be indicated. If you feel the number of members listed according to our records, for the board of directors or any committee does not agree with what you believe it should be, please verify that a bylaw amendment has been completed or submitted before changing this information.

If you have completed or submitted a bylaw amendment for alternates for any committee, please check the box and indicate how many alternate member(s) the committee(s) have. Be sure to check the boxes if no Credit Committee (credit manager was appointed), no membership committee or no Executive Committee.

Enter or verify the number of members required for a quorum at the Annual Meeting, and the Par Value of a single common share both should be according to your Credit Union Bylaws. Click the “NEXT” button to continue and save the information.

Committee Member Menu

At the top of the screen, you will see the required number for each committee according to our records. If you feel the number of members listed according to our records for any committee does not agree with what you believe it should be, please verify that a bylaw amendment has been completed or submitted before changing this information on the Bylaw Screen.

Please review and verify the members and make any changes (if necessary) for each committee. For each Committee that has more then 1 member, please ensure that one member is listed as Chairman of that committee.

If a person is no longer on a committee, use the drop down box next to their name and select the “blank” space. To add a person to a committee, use the drop down box next to their name and select “Chairman” or “Member” (whichever is applicable).

You will see that for officers of the Board (Chairman, Vice Chairman, Secretary, or Treasurer); the Supervisory Committee is grayed out. This is because Officers cannot also serve on the Supervisory Committee.

In addition, members of the Credit Committee cannot serve on the Supervisory Committee and vise versa. Therefore, if you enter a name for one committee, the other committee will “gray” out.

Once you have completed all the committee assignments, verify that you have the correct number of members of each committee, and that someone is listed as Chairman for each committee (for any committee with 1 or more member(s)), then click “NEXT” button to continue and save the information.

Annual/Organizational Meeting

Enter the information required for the Credit Union’s Annual and Organizational Meetings. If you need additional help on how to figure the shares, click on the “Need help with this page” at the top of the screen. Click on the “NEXT” button to continue and save the information.

Office Hours

Enter the hours the Credit Union is open for business. (As a convenience, if you enter the hours into the Monday field and hit the key, the information will automatically be copied into Tuesday through Friday’s fields) If the hours on any given day are different, you can click on that day and edit the information. You may enter the hours for Saturday & Sunday, if applicable, but it is not required. (Enter only lobby hours for any given day). If your credit union is NOT open sometime during normal business working hours (i.e. 8 a.m. – 5:00 p.m.) you must also indicate a name and phone number for someone from your credit union Board of Directors or the Credit Union day-to-day person who can be reached during normal business hours (i.e. 8 a.m.-5 p.m.)

Click on the “NEXT” button to continue and save the information.

Books, Phone/Email

Verify or Enter where the books & records for the Credit Union are stored (if other than the physical address), the office and fax phone numbers, the web address (if applicable) the email address for the Credit Union and for the President/Manager (not their home e-mail unless they want to receive email from our office at their home). Please double check any email addresses for accuracy. Click on the “NEXT” button to continue and save the information.

Check for Errors (VERY IMPORTANT)

The program analyzes the data that was entered, looking for problems or errors, and creates an error report detailing any that it finds. Click on the “Check Errors” button and if any errors are detected, a list will be generated. Correct any errors at the top of the screen (if applicable). If no errors are found, a statement indicating so will be displayed. Click on the “Continue” button to proceed with the check box statements. Confirm each statement by checking the boxes. Click the “Continue” button.

At the top of this screen please select “Please preview the credit union CU 125/Oath of Directors”. This will give you a “print preview” of the 4 page CU 125/Oath of Directors Form. Closely check the report for any missing information, typographical errors, etc. If everything appears correct, print 2 copies of page 2 the report, so you may obtain the Director’s signatures & notary information. (Remember to print 2 copies and obtain all signatures on both copies.)

It is suggested that you DO NOT finalize the report until after you have performed a print preview and reviewed the report for accuracy. If you print before you finalize the report, the report will have printed at the top “NOT OFFICIALLY SUBMITTED” which just means it has not been finalized and electronically submitted to the Credit Union Section. You can submit this version of the report, or reprint it after it has been finalized.

Keep in mind; you must correct any errors prior to finalizing the data and sending the paper form to us. Please contact the Springfield Office for any questions or assistance.

Finalize the form (which submits it to Credit Union Section)

(Very important), you MUST click on Finalize CU 125 to submit your data to the Credit Union Section. Once submitted, your data will be available to this office for review. Please note, once you have Finalized your report and submitted to this office, no changes can be made unless you contact this office and request the form be released. If changes are necessary, we can “release” the form and changes can then be made and the form resubmitted.

Once you have finalized, if you provided email contact information you will receive an email confirmation that the Credit Union Section has received your form. The email will be sent to the President’s email address as listed on the CU 125 Form or if no email is listed for the President, then the email confirmation will be sent to the CU’s main email address. If no email has been provided, then you will NOT receive confirmation.

Print the CU Form 125 Report

Once all errors have been corrected (if applicable), and the form Finalized, print each of the pages (if you already printed page 2, you can skip that page).

Remember to print two (2) copies of the form. Please review the paper report one last time to verify for accuracy. If you have not already obtained the signatures, have each member of the Board of Directors sign on the line just above his or her name on page 2 of each copy. Obtain a Notary Seal, Signature and date. Keep one original copy for your files, and submit one original copy to the Credit Union Section.

Mail one original paper copy of the CU 125/Oath of Directors Form (within 30 days of your organizational meeting) to:

IDFPR

Division of Financial Institutions

Credit Union Section

320 W. Washington, Suite 500

Springfield, IL 62786

Please be certain to retain one original copy for your records.

Questions?

Questions may be directed to the Credit Union Section at (217) 782-2834.

Thank you for using CU125 to submit your information!

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