CU*Answers, a 100% credit union-owned cooperative, recently introduced a new Loan Payment Activity Analysis Dashboard that allows credit unions to compare payments received to the due dates that were anticipated as of the prior month-end. The new dashboard allows lending departments and other senior staff to determine how loan payments are flowing through the system and gives them the insight to better manage and determine the lending volume that needs to be closed in order to break even in their loan portfolio and then grow.

The activity summary shows how many of the actual payments were over, under or equal to the expected amount and also provides information on the early payoffs and members who made no payments. A variance between expected and actual payments is displayed to provide insight on how fast your loan portfolio is being paid off.

On the summary dashboard screen you can view a breakdown by week of the month or get detailed information on the payments being made. The dashboard will also allow you to use the filters on the first screen to isolate loans by payment frequency product type, loan category, business unit, collateral type, credit score range and interest range for a more in depth analysis of your loan portfolio.

Per a CU*Answers representative, “This tool will really help credit unions dissect their lending payoffs to determine what types of loans payoff early and determine strategies to increase volume.”