CUES Offers Deposit Reclassification Service to Credit Unions
Madison, Wis.—As margins continue to shrink, the Credit Union Executives Society is pleased to offer a revenue-building strategy for credit unions to help in these challenging times. CUES Deposit Reclassification powered by fi-linx, a credit union-owned technology company, is an innovative system that is fully compliant with NCUA regulations. CUES Deposit Reclassification changes the way credit unions report their transaction account balances to the Federal Reserve. The result is a significant reduction in reserve requirements that enables credit unions to turn non-interest earning reserves into interest-earning assets.
"CUES is pleased to offer this new service to credit unions and to help them stay competitive in the fast-changing financial services marketplace," said Mark Hawkins, chief executive officer at Altura Credit Union, Riverside, Calif., and president, CUES’ board of directors.
