CU*Answers Prepared for NCUA June Call Report Changes
GRAND RAPIDS, MI (June 13, 2013) In October 2012 when the NCUA announced the loan delinquency reporting change from months to days, CU*Answers, the 100% credit union-owned cooperative CUSO, started planning and preparing for the necessary updates to our software tool CU*BASE®. Implemented with the April 2013 software release, our system now calculates the actual number of days delinquent and reports the loans in the appropriate 30-59 days, 60-179 days, 180-364 days, or >=360 days categories.
In addition to the loan delinquency reporting change for the June Call Report, CU*Answers is also prepared for these NCUA updates:
- Account Codes are added for reporting delinquency and charge offs for new and used vehicle loans.
- Account codes are added for unfunded commitments, credit impaired loans and investments.
CU*Answers has a dedicated resource on staff who monitors the NCUA changes, updates the software, procedures and documentation accordingly. Jim Vilker, Manager of the Audit Link Department states “Since the CU*BASE software tool was introduced four years ago, we have consistently made Call Report changes in a timely manner and met NCUA deadlines”.
About CU*Answers, Inc.
CU*Answers offers expertise in implementing technical solutions to operational needs, and is a leader in helping credit unions form strategic alliances and partnerships. CU*Answers provides a wide variety of services for credit unions including its flagship CU*BASE® processing system (online and in-house) and Internet development services featuring It’s Me 247 online and mobile banking. Additional services include web development, network design and security, and image check processing. Founded 40+ years ago, CU*Answers is a 100% credit union-owned CUSO providing services to credit unions representing nearly 1.5 million members and $12.6 billion in credit union assets. For more information, visit www.cuanswers.com.