CU*Answers Summer Software Release Uniquely Positions CU’s Future

CU*Answers announced the summer software release to its flagship software product CU*BASE this week. Key to this new release are two products that integrate well with the long-term strategies of CU*BASE credit unions. These product are developed in the cooperative spirit to meet the challenges credit unions are having in today’s marketplace and to increase future ROA position.

First, the CU*BASE teller platform will now include Non-Member Teller Services as a standard feature. All CU*Answers credit unions will have the ability to offer check cashing and other over-the-counter services to their community non-member financial service customers. CU*Answers is currently meeting with several credit unions to discuss their business plans to open both independent and co-sponsored check cashing facilities. The CU*BASE teller platform now supports members, shared branching members, and non-members using the same application in a single teller line.

CU*Answers CEO Randy Karnes stated “Credit Unions are both motivated by income needs and philosophically aligned with servicing these customers with fair service fees. We hope by positioning credit unions with these integrated tools we can give CU*BASE credit unions one step up on those using third-party tools that do not leverage current facilities or employees”

Second, the latest CU*BASE release now supports Courtesy Pay or Non-Return Checking Programs as a standard feature of CU*BASE’s back office platform. These new features include the ability to individually and batch manage member relationships for negative balance clearing levels, member notices, collections and negative account balance tracking, and revenue collection. CU*Answers previewed plans to interface these new checking account features with its CRM Tiered Service package, which scores members monthly for over 30 categories, and literally hundreds of relationship factors.

“No matter what marketing plan, internal or external, these tools are about better management of member checking accounts, increasing net revenue, and building stronger relationship with members. CU*Answers credit unions now have the ability to work with checking account consultants or create their own products”, says CU*Answers EVP and CU*BASE Product Team Leader Jim Vilker.

Community Credit Union of La Crosse, WI, President Chris Butler said, “This release is another example of how CU*Answers combines software changes that speak to today’s business plans and needs as well as the needs for tomorrow. It is a lot easier to take a chance on a new business idea when the tools are ready and waiting. CU*Answers delivers 2 to 3 major releases each year at no cost and training is always included.”