CU*Answers to expand skip-pay options in the CU*BASE LOS
GRAND RAPIDS, MI (April 30, 2020) — CU*Answers has launched a development project to expand its already robust set of offerings that allow credit unions to offer skip-pay options to their members. Credit unions can currently grant automatic skip-pay privileges on its online credit card platform by simply selecting a batch of prequalified members and using a tool that adjusts the payment due date on all credit card loans for those members.
For consumer loans, credit unions can offer multiple, optional skip-pay programs to members via the It’s Me 247 online and mobile banking platform, complete with integrated fee options, allowing members to choose when and how they wish to skip payments and even apply the skip immediately with no further action by the credit union.
The new development project expands options for online credit cards so that credit unions can offer the same optional skip-pay programs as are currently available for auto loans and other types of consumer loans. The tool will include the same automated approval process, fees, and integrated exclusions based on CU-defined parameters such as delinquency and card status.
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 in 1970, CU*Answers is a 100% credit union-owned cooperative CUSO providing services to credit unions representing over 2 million members and $21.5 billion in credit union assets. For more information, visit www.cuanswers.com.