cuasterisk.comIn the true spirit of being a 100% Credit Union owned cooperative, CU*Answers has formulated a project to automate credit unions learning from a peer to reduce the cost of innovation.
According to the CUSO, Learn from a Peer is not a single feature; it is a goal for all of the information known about CU*BASE credit unions to be available and able to share at lightning speed. It is the first step in reducing the cost of active innovation, allowing credit unions to search for references and ideas at the lowest possible cost, via CU*BASE. There will be two basic styles of Learn from a Peer tools: 1) Aggregated views showing all or a group of credit unions together, either in a list or report format or via an online inquiry. The first example of this will be the Tiered Service Peer Analysis. 2) One-peer-at-a-time views showing a specific configuration screen (or a series of screens) from one peer credit union at a time. The first foray into this still will be with all of the over-the-counter fee configurations.
The new Tiered Service Peer Analysis is available with the 9.4 CU*BASE Release.
Other ideas for future phases include:
- Compare rates for savings, certificates, and loans across multiple credit unions in a peer group
- View product configurations such as loan products , savings divided applications, and certificate types
- Copy paragraphs or complete forms from a peer’s library of Misc. Member Account Forms (TIS disclosures, etc.)
- View configurations for service charges, including minimum balance, transaction, and account service charges
In the true spirit of being a 100% Credit Union owned cooperative, CU*Answers has formulated a project to automate credit unions learning from a peer to reduce the cost of innovation.
According to the CUSO, Learn from a Peer is not a single feature; it is a goal for all of the information known about CU*BASE credit unions to be available and able to share at lightning speed. It is the first step in reducing the cost of active innovation, allowing credit unions to search for references and ideas at the lowest possible cost, via CU*BASE. There will be two basic styles of Learn from a Peer tools: 1) Aggregated views showing all or a group of credit unions together, either in a list or report format or via an online inquiry. The first example of this will be the Tiered Service Peer Analysis. 2) One-peer-at-a-time views showing a specific configuration screen (or a series of screens) from one peer credit union at a time. The first foray into this still will be with all of the over-the-counter fee configurations.
The new Tiered Service Peer Analysis is available with the 9.4 CU*BASE Release.
Other ideas for future phases include:
· Compare rates for savings, certificates, and loans across multiple credit unions in a peer group
· View product configurations such as loan products , savings divided applications, and certificate types
· Copy paragraphs or complete forms from a peer’s library of Misc. Member Account Forms (TIS disclosures, etc.)
· View configurations for service charges, including minimum balance, transaction, and account service charges
About the Partner
CU*Answers
CU*Answers was founded over 35 years ago and is a 100% Credit Union owned CUSO located in Grand Rapids, Michigan. CU*Answers offers a wide variety of services for credit unions including its flagship CU*BASE Processing System in both an Online (ASP) and In-house environment, Internet Development Services featuring the It’s Me 247 Online Banking product, Member Check Processing and Direct Deposit processing services. CU*Answers provides combined services to 165 credit unions nationally representing nearly 1.5 million members and $10 billion in credit union assets. For more information about how “We Make Credit Unions Go” please visit CU*Answers at cuanswers.com.
