Investment Type and Rate Maintenance

Overview (IL203)

Investment Type/Rate Maintenance enables you to establish new investment vehicles as well as modify or deactivate existing ones. It’s where you will enter or change critical details of each of your investment offerings such as eligible rates of return, investment category, effective period, and term length. This is the information that makes an investment unique, and it applies whenever your client elects this type of investment.

From the DDI Connect main menu, do the following:

• Double-click Financial Services
• Double-click Investments
• Double-click Setup
• Double-click Type and Rate Maintenance. You will see this screen:

NOTE: What you see on this screen depends on the investment types already established within your system.

To add a new investment type, click the Add button on the toolbar. The fields are now editable:

Field	Description
Inv Type	This field is a 4 digit numeric identifier for the investment type. It MUST be a unique number
Term Category	Select the investment category by clicking the list icon and choosing from a list of available categories in the system
Description	The description will automatically default from the term category. However, you can manually override and type in a description
G.L. Number	Type in the GL number for this investment type, or click the list to select from a list of GL numbers in the system
Term Months	This field can only be edited if the category selected allows for the establishment of term months. If it does, enter the number of months that applies to this investment type
Current offering	Type Yes if this is a current offering, or leave as no if you are not yet ready to begin offering this investment type
Note type	Click the list icon to select from a list of available investment tiered rate instruments
Start date	Enter the date that the investment is first eligible for sale
End date	The system will default the end date to 12/31/9999. If, however, this is a limited time investment type, you can enter an end date here
High rate	Enter the highest interest rate that this investment type is eligible to earn
Low rate	Enter the lowest interest rate that this investment type will earn
Demand rate	Current interest rate for this investment type, if a demand note. This is especially important in calculating penalty amounts for early redemption
Penalty rate	Either an actual penalty rate, or a rate used in conjunction with the demand rate to calculate the early-redemption penalty
Extendable	Whether or not this investment type will automatically extend (renew) at maturity (yes/no). If “yes”, this investment type automatically extends to the investment type in the Extension Inv Type field below
SEC Limited	Indicates whether organizations are limited by state Securities and Exchange Commissions in terms of the amounts of investments than can be sold to state residents. The State Sales Maintenance screen enables you to set up amount limits (i.e., $5 million in notes to Indiana residents, $2 million in 1-year notes to Indiana residents, etc.). The Investment Purchase screen (using purchase state, purchase date, note type) then checks to see that the proposed deposit amount does not exceed state limits
Extension Inv Type	If the Extendable field above is marked “yes”, at maturity the investment type automatically extends to the investment type identified in this field