Devenir Off Trial Balance

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Devenir is a national leader in powering investment solutions for healthcare accounts. Devenir delivers investment solutions that power health care account offerings for a variety of industries, including credit unions and banks to deliver convenient, cost-effective HSA solutions that increase member value, while giving account holders the power to save for future health care expenses. Their integrated investment platform helps to gather and retain more HSA assets, which is intended to provide a competitive and financial advantage over HSA providers who don’t offer investments.

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CU*Answers has developed an Off Trial Balance solution with Devenir to receive a daily balance/status file. Utilizing the AFT feature in CU*BASE, your members can “transfer” funds from their HSA account to their Devenir investment account. When funds are liquidated through Devenir, the money will be transferred back into the member’s HSA account. With this information, your members will quickly associate these extended services as direct credit union services – not a separate vendor or broker for whom they would normally be required to connect separately to for initially reviewing these accounts.

There are (3) primary components as per this integration:

  • Receive and post a balance and status file for the OTB accounts in CU*BASE from Devenir. This amount represents their current balance of accounts with Devenir.
  • Utilize CU*BASE’s AFT module to transfer $$ from an HSA share draft account to their OTB account with Devenir. The following day this money will be deposited with Devenir.
  • If the member requests a distribution from their Devenir investment account, this $$ is transferred back into the member’s HSA share draft account at the Credit Union.

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