The NCUA is making major changes to the information that credit unions report on the quarterly 5300 Call Report effective with the March 2022 cycle. The NCUA first hinted of significant changes back in late 2018 as part of their modernization efforts and overall simplification theme. Although the financial statement reporting on the first five…
Education is key in the credit union industry, but how can one learn when working a busy schedule? For CU*Answers clients, Learning Cafés are the answer. The most recent event happened January 19, when host Jim Vilker, Vice President of Professional Services with AuditLink, NCCO, CAMS, spoke about applied auditor solutions to compliance issues. “My…
CU*Answers has officially opened the nomination process for its annual stockholder election, that will occur on Wednesday, June 15th. Each year the 100% credit union-owned CUSO holds an annual election for opportunities to run for a seat on its board of directors. The meeting will take place at the JW Marriott in Grand Rapids, Michigan…
The West Michigan-based cooperative CUSO CU*Answers is pleased to announce the Client Services and Education team has added another Client Services Representative to its roster. Experience and determination alike drive Rachelle Gonzalez. With her background in various industries, she feels her new position presents “a good opportunity to learn and expand my knowledge of the…
In 2020-21, CU*Answers developed self-service lending features that allow members to open new credit cards and loans through online and mobile banking more quickly than ever. 1Click Offers tie a credit union’s lending team, smart analytics, and computer-closed-loans (no employee needed) into lending solutions. Instead of waiting for members to apply, credit unions can offer…
CU*Answers has completed its benefit open enrollment for the 2022 plan year. Each year, the Organizational Resource Development team works closely with carriers to ensure they are able to provide a robust benefit plan offering to employees. While there were minimum changes to plan design, CU*Answers did participate in a new enrollment process to help…
More and more credit unions are finding information exportable to a standard format useful. CU*Answers experienced this truth when it processed sixteen new iText requests in 2021. This company looks forward to seeing how iText requests progress in 2022. iText is a license for clients to download data from their computers into the PDF format.…
CU*Answers, the Grand Rapids, Michigan based multi-owned cooperative CUSO, recently announced its Servicer Edition product suite can be effectively deployed in any CUSO or business that provides account servicing for its customers. Servicer Edition is the CUSO’s toolkit with a menu of supporting services that can be implemented by organizations of all sizes that provide…
Communication is crucial in the credit union industry, especially when key topics and changes are involved. This is where Client News and Education Express help. At a respectful 95 and 406 registered users and counting, clients want to stay updated. “It’s important that our credit unions stay actively engaged with our Client Services and Education…
On January 16, 2022, CU*Answers coordinated a live test of an in-house credit union’s high availability strategy by conducting a rollover for core processing services from the production data center outside of Portland, Maine, to the secondary data center located more 1,500 miles away in Yankton, South Dakota. Core processing data is replicated in real…