In an effort to enhance credit union processes for maintaining sound and secure holdings, West Michigan-based CUSO CU*Answers has recently released enhancements to the written off loan features on its core processing system. Client credit unions have asked for a better way to analyze their loss portfolio and CU*Answers listened. With its most recent software release, 52 new fields were added in the flagship product CU*BASE^® with the goal of capturing more information about the write-off and charge-off process. All member credit unions can take advantage of this tool without any additional cost.

“We were just not satisfied with normal data mining so we created dashboards that managers can review in CU*BASE with a multitude of options for tracking losses,” noted Jerry Collins the Collections Manager. “The end goal is to find a way to reduce the losses based on the new data gathered. This was the natural next step for a cooperative of financial institutions that are consistently looking for ways to mitigate the increasing expense of regulatory obligations.”