CU*Answers recently announced that as part of its upcoming CU*BASE release it has included a new statement reconciliation and analysis tool for credit unions to instantly review their member statement and e-statement activity.

The West Michigan-based CUSO said this newest dashboard was developed as the result of direct input from clients looking for a better understanding of their statement generation and member trend analysis. This represents CU*Answers’ newest database mining tool included as standard within the CU*BASE processing system and is intended to provide instant access to key credit union data without having to create a complex series of custom reports or spreadsheets.

The statement reconciliation/analysis feature provides a comprehensive breakdown of a credit union’s statement production to see how many members qualified for a statement minus the amount suppressed to give a total number of statements for the period. The data is further broken down to see how those statements were delivered (e.g. printed and mailed, returned to CU, or as e-statements).

The dashboard presents up to 8 statement periods for the selected statement type (regular/credit card/mortgage), statement format (monthly/quarterly), and statement period end date. This means not only will credit union management be able to reconcile its invoice for auditors, but it will be easy to see how their statement production is trending to assist in meeting a credit union’s on-going business objectives. The credit union may even view more detailed information for any selected statement period to see how the numbers were calculated, and view statement style and insert details.