West Michigan-based CUSO, CU*Answers, announces a series of upgrades for users of its flagship data processing software, CU*BASE. These upgrades will be launched as early as March 16th.
Some of the key features being enhanced include:
- Experian Authentication Services — Level 1 (AS1): Experian AS1 functionality has now been integrated into CU*BASE. Leveraging the existing interface with ZOOT, and the tools and features of the CU*BASE platform, the CUSO has created an interface to Experian’s AS1 as the tool to help credit unions meet the requirements of new Due Diligence and Red Flagrelated procedures and policies.
- Reg. D Report Enhancements: The Regulation D Statistics Report has been revamped to make it much more useful for completing required reports for the Fed. The report will now have four sections. Products will show a separate count of accounts and balance for personal and non-personal accounts as well as a tally for accounts with balances equal to or over $100,000, which will also be useful in filing a 5300Call Report.
- ALM-Related Enhancements: New fields have been included in the ALM file which you can download for use with third-party ALM analysis. You can now enter re-pricing settings on all Variable Rate Loan codes to be included when producing an ALM file for loans. In addition, ALM files will now include online credit cards.
Other upgrades in the March release include standardizing the Fee Waiver Hierarchy, Flexible Escrow Payments for 365-Day Interest Calculation Types, enhancements to the Work Collections Screen, and much more.