Randy Karnes, CEO of Grand Rapids-based software provider for Credit Unions, spent the day with leaders of CU*BASE clients at the Meijer Gardens & Sculpture Park in Grand Rapids, MI. While discussing favorite projects and milestones impacting the credit union-owned CUSO in the last year he provided an update on the CUSO’s 5300 Call Report project.
Not surprisingly, Karnes reported that 95 CU*BASE credit unions have keyed in at least one 5300 Call Report. Considering that some of the integrated tools were released only during summer of 2009, the development rate of this project appears to have gone at lightning speed. Effective for the March, 2010 Report credit unions have been able to upload CU*BASE Call Report Data Directly to the NCUA.
Continuing with the ‘Are you an Artist’ theme set for this year’s Leadership Conference, enhancements and tools currently on the drawing board were announced to the crowd consisting of 200 credit union professionals. A new dashboard showing certain ratios (Net Worth, Operating Expense/Gross Income, for example) calculated automatically from 5300 data will be available to users, even for in-between months when a quarterly report is not filed. Additionally, and 5300 Data Trending Dashboard, similar to the Tiered Services dashboard already in CU*BASE, will be make embedded data available at the push of a couple buttons.
Prototypes of these features are slated to be ready in November, with a full software release next spring.