Streamlined Account and Depositor Creation and Association

Account Creation

To add a new Account, click the "Manage Program" button and select "Add Single Account" from the dropdown. Enter the required Account details, including the account title, signer's primary name, account type, account dividend rate, and complete the attestation checkbox confirming the required T&Cs have been executed and retained by your credit union.

After submitting the account information, you'll be prompted to add Depositor information to complete the onboarding flow. "Depositor" and “Member" are used interchangeably; they refer to the same entity in our portal. Depositors represent the legal owner of the funds in the account; for User access, you should instead use the User Management module to provision additional User access to a single Depositor entity (e.g., multiple Users for a single organizational Depositor). At this step, you can either select an existing Depositor or add a new one.

To select an existing ModernFi member, choose the "Existing Depositor" option and search for members by name or Institution Depositor ID. Once selected, all Depositor fields will auto-populate with their saved information.

To add a new Depositor, enter their details including type, name, contact information, and address. For financial institutions using SSO integration (such as Alkami), you must also provide the member ID, which maps to the Institution Depositor ID in ModernFi's system and is required for SSO authentication; it should correspond to the Depositor entity, not individual signers. For non-SSO institutions, you can optionally send the Depositor a portal invitation to access their account information.

Once submitted, both the Account and Depositor are automatically created on ModernFi's side and will immediately appear in the Accounts and Depositors tabs.

Account Creation Demo

Managing Depositor Associations

There are three ways to add or update Depositor associations on an existing Account:

• Add Depositor(s) During Account Creation: As described above, you can select one or more existing Depositors or create a new Depositor as part of the Account opening flow. Note that you can only add one new Depositor during Account creation; you can associate additional Depositor to the Account after it is created following the instructions below.
• **Add or Remove an Existing Depositor to an Existing Account: **In the Accounts table, select the "Edit Account" icon on any Account row to add or update Depositor associations using the "Add or Remove Existing Depositor" field.
• Add a New Depositor to an Existing Account: In the Accounts table, select the Add Depositor icon on any Account row to create a net-new Depositor to associate with an existing Account.