CU*Answers reports that they have officially launched the beta-test period for their File Expansion Project (FEP), which expands balances and other fields in key database files in the CU*BASE® core processing software to allow credit unions to book loans and other accounts with balances upwards of $999 million. With well over 40,000 man-hours in development and testing over the past two years, FEP represents a critical commitment to long-term evolution and sustainability by the 100% credit union-owned cooperative CUSO.
The first beta-test site, FOCUS Credit Union in Wauwatosa, Wisconsin, started processing live on the expanded files and software programs on March 16th, and additional beta-sites are being added every month throughout the rest of the summer, with all 200+ clients in the cuasterisk.com network expected to be completed by November 2014. Randy Karnes, CU*Answers CEO, described the project as, “proving we have the chops to take on a project of this magnitude, whenever we need to.” The project will not only allow new business opportunities for credit unions, but also exemplify the confidence the network has to tackle anything credit unions and their members will need in the future.