A new piece of software to add accountability and reduce errors in back-office management of fees has been adopted by University Federal Credit Union in Texas.
The $1.1 billion Austin credit union is using CUTEK Fee Management Console, an add-on to its Symitar core processing system that pulls together and displays all fees charged to a member's account.
The new solution allows the credit union to track who refunded a fee and why-for regulatory or member-relationship services, for instance.
Ron Murray, president of CUTEK, a California-based consultancy specializing in Symitar Episys applications, said 18 credit unions now are using the Fee Management Console.
