MONETT, Mo. (7/2/15)--ProfitStars has introduced a new tool for National Credit Union Administration (NCUA) regulatory reporting.
Call Report Pro CU assists credit union staff in preparing quarterly 5300 Call Reports with improved efficiency and accuracy. Regardless of the credit union's core processing system, the software imports data files directly from the general ledger or other data sources into the call report to save time and improve accuracy.
"Regulatory demands continue to increase, which can be a growing burden for credit unions,´ said Russ Bernthal, ProfitStars president. “At ProfitStars, we are committed to providing solutions that will continue to improve the ease and efficiency of compliance processes through the use of technology and automation. Call Report Pro CU is just one example of how we're able to help customers better manage what was a tedious, but necessary task that has historically been done manually.”
The solution incorporates more than 1,600 NCUA built-in data validation tests to eliminate errors. Historical call report data is displayed on-screen, with the option to add personal notes for future reference and document any corrections. Completed data can be uploaded directly to the NCUA's website from within the software for an efficient transmission process.
Call Report Pro CU also provides automated, presentation-quality reporting. Credit unions can run diagnostic and peer comparison reports based on current and historical Call Report data and performance ratios dating back to 2010.