CU*Answers announces new upgrades to CU*BASE

Members are big winners with latest software release!

CU*Answers released many new features to its flagship CU*BASE Member Processing during the 4th quarter. These include:

Indirect/ Dealer Lending enhancements -for loan managers to better manage any indirect/ dealer relationship, including:

  • An XML lending gateway for clients to electronically receive loan applications from any third party such as new/ used auto dealers, hospitals or other retail source.
  • Pre-configured indirect dealer codes to automatically link a loan to a desired dealer to eliminate re-keying and enhance dealer tracking.
  • An Activity Tracking “Dashboard” to provide loan managers a statistical tracking tool showing the status of every pending, booked or denied application by office location, loan officer, delivery channel, loan type and more.;

Reduced Credit Bureau Pricing – significantly reduced pricing for Credit Bureau reports accessed from national providers, providing savings by as much as 50%.

Escrow Rewrite – provides an automated process for opening a member escrow account linked directly to the loan. It includes an escrow payable system designed to quickly gather all member records, easily withdraw funds to automatically cut checks, and provide reconciliation reporting.

Loan Applications – to remove duplicate debt information from a loan application where both the applicant and co-applicant have identical trade-lines on their credit report. It will remove the duplicate debt from the co-borrower without wiping it out from that person’s Household record so that the person still may apply for credit alone.

Member Service Rewrite (Phase 1) – focuses upon procedures used to open memberships and accounts, including new ways for better managing staff job workflow. Clients are able to control prompted steps MSR’s use when setting up new accounts, such as pulling a credit report, enrolling in e-statements, print starter checks and much more.

Unlimited Joint Owners – providing for an unlimited numbers of joint owners and beneficiaries of all sub share and certificate accounts.

Account Nicknames – ability for members to request a filtered nickname for their individual sub share accounts, including allowing members to update their own nicknames via the CU*@HOME PC Banking system.

Teller Posting of Checks – CU*BASE will use both O/D protection and Courtesy Pay when considering posting a check to a member’s account being served. This includes a teller warning message to alert members that clearing this check will “cause fees to be charged” to that member’s account.

Tiered Member Services
– providing for an online “gift” catalog containing credit union services and “goodies” that members can purchase by redeeming some of their lifetime “frequent flyer” points as based upon their service profile with the credit union.

Additionally, during the 4th quarter, CU*Answers provided three full weeks of CU*Answers University to its CU*BASE users, featuring 75+ education classes at its Grand Rapids campus and a CEO Strategies Week that included 35+ CEO’s attending nationally to discuss topics of interest with peers, product development and technology solution strategies.

During 2005, CU*Answers provided 6 full weeks of CU*Answers University sessions in Grand Rapids, featuring 200+ free education classes attended by over 1,300 CU*BASE participants. In addition, a wide variety of Online and Regional education events, Product Focus Group Meetings, CEO Workshops and interactive Webinar training session were also conducted throughout the year.