ProfitStars launches NCUA regulatory reporting tool

Source: Jack Henry & Associates

Jack Henry & Associates, Inc. (NASDAQ:JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its ProfitStars division today introduced Call Report Pro CU, a simple and quick solution for National Credit Union Administration (NCUA) regulatory reporting.

Call Report Pro CU enables credit union staff to quickly and easily prepare quarterly 5300 Call Reports with improved efficiency and accuracy. Regardless of the credit union's core processing system, this software imports data files directly from the general ledger (or other data sources) into the Call Report to save time and improve accuracy. The solution incorporates more than 1,600 NCUA built-in data validation tests to eliminate errors. 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.

Beth R. Tynan, AVP controller for Norcross, Ga.-based Associated Credit Union, commented, "Call Report Pro CU has proven to be very user friendly. Its data validation features improve the overall efficiency of our Call Reports. I am looking forward to the historical graphs and analytics; automating that data can help to further improve our productivity."

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.

Russ Bernthal, president of ProfitStars, added, "Regulatory demands continue to increase, which can be a growing burden for credit unions. 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. This solution streamlines this compliance process and provides credit unions more time to focus on their members." 

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