FI Admins can now liquidate and close EIA accounts directly from the Admin Portal at any time, including mid-month. To close an account, navigate to the "Sweep Program" section of the Admin Portal and select "Close Account." From the dropdown, choose the account you wish to close. The current balance will be displayed for review. Once a closure is scheduled, the account will appear in the Closed Accounts table with timestamps reflecting when the closure was requested and when it is scheduled to close. A final statement will be available in your Documents tab and a confirmation email will be sent to your institution once the remaining balance and accrued dividends have been returned in that day's settlement.

Reach out to your Regional Director with any questions or feedback.

We've enhanced the design of our monthly account statements with improved formatting and a more polished layout optimized for both digital and physical delivery. The updated header section now adapts more flexibly to your institution's settings, giving you the control you need while delivering an enhanced experience for your depositors.

We've expanded editing capabilities in the Admin Portal for CUSO program administrators at network credit unions. You can now directly edit more Account and Depositor fields by clicking the pencil icon when hovering over accounts in the Accounts table, and access additional editable member fields through the Depositors table.

Get the latest product updates from ModernFi CUSO directly in your inbox by subscribing to our changelog. To subscribe to product changelog updates, any Institution, Program, or User Management Admins can to Settings in the Admin Portal, enter your email under Subscribe to Product Changelog Updates, and click Subscribe. For more information, see here.

Dynamic Target Balance is now available in the Admin Portal, allowing you to automatically adjust your Target Balance for your Receive Program based on your sweep activity. Instead of setting a static target balance that requires manual updates, you can now define your target as a spread (positive, zero, or negative) relative to your sweep balance. This eliminates the need to continuously monitor and adjust your target balance as member activity causes your sweep balance to fluctuate, while maintaining your desired net-sourcing, exact reciprocation, or net-sweeping position. Your target receive balance will update in real-time alongside sweep activity, reducing operational burden and ensuring your balances remain aligned with your balance sheet strategy. For more information, see here.

The Account-Level Reciprocation feature enables financial institutions to gain granular visibility into and control over how reciprocal balances are attributed across Extended Insurance Accounts. Institutions can prioritize specific accounts for reciprocal classification or rely on automatic determination based on balance levels from lowest to highest, with clear identification of which accounts are currently reciprocated. This capability delivers significant benefits to clients by supporting more detailed reporting of network activity for account- and branch-level attribution, facilitating compliance with regulatory obligations, and empowering institutions to strategically manage their reciprocal relationships with greater precision and transparency that aligns with their operational needs. For more information, see here.

Credit Unions can now assign Ownership Categories to their members on the Admin Portal, enabling more granular tracking of depositors in the ModernFi CUSO Network. Admins can assign an Ownership Category during Account Opening and can edit or add them to existing members through the Depositors table.

Pricing Groups enable your institution to manage dividend rates across multiple accounts more efficiently. Rather than updating rates for each account individually (or en masse), you can organize accounts into groups and, in a single update, apply rate changes to each account within a group. This functionality eliminates manual account-by-account rate updates, while ensuring you can maintain a targeted rate strategy through a solution that scales with your network participation. For more information, see here.

This new release ensures that your account opening experience adapts to any live integrations in place with your core and/or digital banking providers, resulting in a more intuitive experience for program administrators and deposit gatherers.

In support of secure and compliant access to the ModernFi Admin portal, institutions can now assign team members to one of six pre-defined roles. Please find more information here.