Mid-Sized CUs Benefit from FedComp/CUNA Mutual Group Pact

FAIRFAX, Va. – FedComp will now market to its credit union clients the CU Investment Manager software from CUNA Mutual Group. The investment accounting package supports monthly accruals and accretions for investments ranging in sophistication from certificates of deposits to collateral mortgage obligations and will help FedComp serve the growing number of mid-size credit unions in the core processor’s large client base. “I’ve paid much more elsewhere for far less,” says Carolyn Warden, FedComp’s director of education and former CEO of a $26 million FCU. “We used another investment accounting package when spreadsheets were no longer good enough to comply with NCUA regulations. I’m not one to allow investment brokers to produce my accounting and analysis tools because they can have conflicting interests. So I think software in your own office is the best way to handle investment accounting,” she says.