Online Training Newsletter – May 2023

May 24, 2023


The Online Training subscription term for Standard and Custom Plan and the Bank Compliance Bundle has historically been from Oct. 1 to Sept. 30 each year.

This subscription term was established many years ago for various reasons. However, this timeframe does not align with the typical training year for community banks, which follows the calendar from January through December.

We are pleased to announce that beginning with the next subscription term, we will be changing the subscription term for the Standard and Custom Plans and the Bank Compliance Bundle. What does this mean for you?

  • In mid-to-late July 2023, the bank will receive a paper invoice to renew your Online Training subscription. The invoice amount will be a larger dollar amount than usual, and your renewed subscription will run from Oct. 1, 2023, through Dec. 31, 2024. Technically, the cost of your subscription is not increasing; you are simply paying for a 15-month subscription instead of a 12-month subscription during this transition period. The invoice amounts will be as follows:

    • Standard Plan: $812.00 members/$2,499.00 non-members

    • Custom Plan: $1,624.00 members/$3,749.00 non-members

    • Bank Compliance Bundle: $374.00 members/$749.00 non-members

  • In mid-to-late October 2024, the bank will receive a renewal invoice for the next subscription year, Jan. 1, 2025, through Dec. 31, 2025, for your regular 12-month subscription. The invoice amounts will return to normal:

    • Standard Plan: $649.00 members/$1,999.00 non-members

    • Custom Plan: $1,299.00 members/$2,999.00 non-members

    • Bank Compliance Bundle: $299.00 members/$599.00 non-members

If you have any questions or concerns about this change, please reach out to Lori Braegelmann (320-352-7380; [email protected]) or Mandy Snyder (320-352-7339; [email protected]).

What’s New

  • The following HSA/IRA courses were updated on May 1:

    • Establishing an IRA

    • Funding HSAs

    • HSA Distribution Issues

    • HSA Introduction and Establishment

    • HSA Portability and Compliance

    • IRA Contributions

    • IRA Distributions

    • IRA to IRA Transfers and Rollovers

    • Traditional IRA RMDs

What’s Coming

  • A new course on Regulation U will launch in early June.

Did You Know?

Did you know that when an employee leaves your organization, their account is not completely deleted? Their account and history remain intact and are theirs forever. This means that if a former employee comes back to your organization, you do not need to create a new account for them.

They will either retain the same email address from your organization (if they did not go to another organization in between) or their previous employer’s email address can be changed. You have two options to update a previous employee's account to bring them back to your organization.

First, you can simply call or email Lori Braegelmann at 320-352-7380 or [email protected], and she will assist you. Second, in Roster Management, start by creating a new employee (refer to the Administrator's Guide for instructions).

Potential duplicate options will appear once you’ve entered the employee's information. When you see the employee’s name you can click on it and edit it. Pay close attention and ensure you choose the right duplicate and not a person with a similar or same name that is from a different organization.