Automated Payment Deferral Solution Launched
Credit unions that manually manage deferred payment plans can now automate the process, according to CUBUS Solutions.
The company said its CUSkipAPay software integrates with the core processing system to automate qualification, advance due dates, re-schedule payments and charge fees, allowing the service to be offered to more members and more often, the company said.
"CUSkipAPay gave us a cost-effective way to expand our loan deferral program to more members around the world, allowing them to obtain debt relief more easily from wherever they are," said Carolyn James, senior vice president at $643 million USA Federal Credit Union in San Diego.
Livermore, Calif.-based CUBUS Solutions provides alerts, statements, skip-a-payment, paper- and gas-saving and other membership programs to more than 85 credit unions, the company said.