CU*BASE Software Upgrade Offers Contingent Liability Analysis

CU*Answers, a Credit Union Service Organization headquartered in Grand Rapids, announces an enhancement to its core processing system, CU*BASE. The previously offered Contingent Liability Report has been upgraded with a trending tool for expanding opportunities and tracking loan disbursement progress.

According to CU*Answers, the point of a contingent liability analysis is to look at all places where a credit union has made a commitment to members to extend credit. The inquiry quickly shows how contingent balances are flowing from one month to the next. This online dashboard inquiry makes it easy to identify areas where members are not utilizing their credit limits, and help teams formulate plans to get active on loan disbursements. This tool is designed to help credit union teams focused on increasing loan balances as one of their ongoing goals, by tracking progress with line of credit lending.

“The work has already been done on these loans to underwrite and create them, with a little extra energy our credit unions are able to recognize a large return” says Geoff Johnson, VP of Lending Products for Cu*Answers.

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