cuasterisk.com CU*Answers, a Credit Union Service Organization headquartered in Grand Rapids, announces an enhancement to its core processing system, CU*BASE. The previously offered Contingent Liability Report has been upgraded with a trending tool for expanding opportunities and tracking loan disbursement progress.
According to CU*Answers, the point of a contingent liability analysis is to look at all places where a credit union has made a commitment to members to extend credit. The inquiry quickly shows how contingent balances are flowing from one month to the next. This online dashboard inquiry makes it easy to identify areas where members are not utilizing their credit limits, and help teams formulate plans to get active on loan disbursements. This tool is designed to help credit union teams focused on increasing loan balances as one of their ongoing goals, by tracking progress with line of credit lending.
“The work has already been done on these loans to underwrite and create them, with a little extra energy our credit unions are able to recognize a large return” says Geoff Johnson, VP of Lending Products for Cu*Answers.
About the Partner
CU*Answers
CU*Answers offers expertise in implementing technical solutions to operational needs, and is a leader in helping credit unions form strategic alliances and partnerships. CU*Answers provides a wide variety of services for credit unions including its flagship CU*BASE processing system (online and in-house) and Internet development services featuring It’s Me 247 online and mobile banking. Additional services include web development, network design and security, and image check processing. Founded 40+ years ago, CU*Answers is a 100% credit union-owned CUSO providing services to credit unions representing nearly 1.5 million members and $10 billion in credit union assets. For more information, visit cuanswers.com.
Lender*VP
Lender*VP delivers to your credit union a team of experienced lending professionals that will take over the task of driving the success of your loan department. The Lender*VP team has years of on-the-street credit union lending experience, combined with an intimate knowledge of CU*BASE tools. We can make sure you know what products you need, get them off the ground quickly, and drive them to success.
