CU*Answers to Host Credit Unions for Leadership Conference
CU*Answers, the West Michigan-based CUSO, announced that it will host its annual Leadership Conference for credit unions utilizing its CU*BASE® data processing software in Grand Rapids, Michigan. The event, taking place on June 19-21, will bring together credit unions from all over the country as CU*Answers unveils its vision for the network during the coming year.
Randy Karnes, CU*Answers CEO, said “The CU*Answers Annual Leadership Conference provides a unique opportunity for our credit unions to get together with their peers, to learn of coming developments in the organization and our software, and to collaborate in designing the businesses of tomorrow.”
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CU*Answers Continues to Expand 5300 Call Report Tool
West Michigan-based data processing CUSO, CU*Answers, recently made updates to its automated 5300 Call Report tool that allows clients to quickly calculate Loans Granted YTD. CU*Answers said it is constantly improving the 5300 Call Report Tool on its flagship core data processing system, CU*BASE®, to assist credit unions with the task of completing the report and delivering it to the NCUA on a quarterly basis.
The CUSO went on to say that the 5300 Call Report Tool has been streamlined so well, that there are CU*Answers clients filling out a “monthly call report” for trend analysis purposes. CU*Answers stated it also offers a service to credit unions who need assistance with initially building the automation routines on the 5300 Call Report Tool.
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CU*Answers Places an Emphasis on Disaster Recovery Capabilities
CU*Answers, the 100% credit union-owned CUSO, indicated that during the month of May they would be performing a lengthy rollover test of their high availability capabilities. During the rollover period the CUSO indicated that it would move production of its core processing systems to its High Availability data center. The CUSO added that multiple tests of their disaster recovery and high availability capabilities are performed to ensure proper coverage for their clients. Although CU*Answers reports scheduled uptime of 100% over the past year and a half, they stressed that they would continue to rigorously test their data centers to ensure proper response.
CU*Answers added that the results for all tests are published on their website for client credit unions to include in their board packets as part of their due diligence.
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CU*Answers Credit Card Act – Interest Rate Change Management
West Michigan-based date processing CUSO, CU*Answers, announced that with a recent enhancement to its CU*BASE® core platform new tools have been added to assist credit unions in complying with the Credit CARD Act, which requires that members’ existing charges remain at the original rate when credit unions change credit card rates.
CU*Answers indicated that managing rates has been significantly improved to provide management with an easier system of changing rates, while maintaining existing rates for existing balances. The CUSO added that their goal was to alleviate the stress of complying with new regulations by providing software enhancements to address those burdens at no cost to its credit unions.
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CU*Answers Rolls Out Roving Tellers
West Michigan-based date processing CUSO, CU*Answers, announced a recent enhancement to its core processing system—Roving Teller. Whereas previously staff moving between branches might have to use a “floating” drawer, now tellers can move freely between branches using the same Teller ID credentials. Tellers can now open a drawer at one branch in the morning, close the drawer at noon, then open a drawer at a different branch in the afternoon.
The CUSO added that this will make moving staff from one credit union location to another easier and more effective, helping to staff different locations for peak hours or needs a breeze. In addition, accounting will be made easier with fewer teller IDs to track, while also tightening up security by eliminating the need to memorize multiple IDs and passwords.
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