For credit unions struggling to fill out their NCUA 5300 call reports, life just got a little easier.
Profitstars, a division of Jack Henry & Associates, has introduced Call Report Pro CU, a program enabling credit unions to more quickly and easily fill out their federal regulator's quarterly call reports. The software imports information directly from the credit union's general ledger and other sources into a program, incorporating more than 1,600 NCUA built-in data validation tests designed to eliminate error.
Historical call report data is displayed on-screen for easy reference, 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.
"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," Profitstars President Russ Bernthal said. "This solution streamlines this compliance process and provides credit unions more time to focus on their members."
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