MADISON, Wis. — The Credit Union Executives Society and fi-linx, a technology solutions CUSO, have linked up to bring deposit reclassification to credit unions.
Deposit reclassification segments both interest and non-interest checking accounts into separate savings and checking subaccounts. The solution allows credit unions to report their transactional accounts as savings deposits, which can result in a significantly low reserve requirement and enable them to increase their 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 $1 billion Altura Credit Union and president of CUES' board of directors.
Recommended For You
Founded by a group of MaPS Credit Union employees in fall 2006, fi-linx created its own deposit reclassification software soon after.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
