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Wolters Kluwer signs three credit unions to Arta deposit documentation system

12 June 2006  |  2417 views  |  0 Source: Wolters Kluwer Financial Services

Wolters Kluwer Financial Services announced three more credit unions have chosen the company's ARTA Deposit Documentation System for credit unions.

This easy- to-use, compliance-driven software allows credit unions to efficiently generate documents and disclosures for deposit and individual retirement account (IRA) transactions, including those for business members.

The newest credit unions to take advantage of the ARTA Deposit for credit unions system include Anheuser-Busch Employees' Credit Union of St. Louis, Missouri; Austin Federal Credit Union of Austin, Texas; and Columbia Municipal Employees Credit Union of Columbia, Missouri.

"We evaluated several vendors and solutions before selecting ARTA Deposit for credit unions," said Deborah Atherton, vice president of real estate lending for Anheuser-Busch Employees' Credit Union. "The solution's ease-of- use, its comprehensive compliance content, and the fact that it was backed by the superior service and support of Wolters Kluwer Financial Services were all deciding factors. We also determined that using ARTA Deposit was a very cost- effective way of helping us to meet our members' business services needs."

ARTA Deposit streamlines the account-opening documentation process and makes it easier to meet compliance requirements by automatically selecting the required documents and disclosures based on state and federal regulations and a credit union's specific policies. ARTA Deposit gives credit unions the ability to efficiently open share draft/checking, share savings accounts, term share certificates/Certificates of Deposit (CDs), and IRAs. Additionally, ARTA Deposit's June 6.0 release gives credit unions the ability to establish and maintain Health Savings Accounts.

"Wolters Kluwer Financial Services is committed to helping credit unions respond quickly to regulatory and market changes while keeping their focus on their members' needs," said Sue Pogatschnik, credit union market manager for Wolters Kluwer Financial Services. "By automating the consumer and business deposit account documentation process with ARTA Deposit, a credit union can ease its compliance burden and reduce the amount of costly errors associated with using paper documents."

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