TALLAHASSEE, Fla. — Since the first of the year, Southeast Corporate Federal Credit Union has signed up 46 credit unions to take advantage of its online reporting service. Now the $4.9 billion Southeast has enhanced the popular service.
ALMonitor Online was designed for credit unions with simple balance sheets to track and measure risk in their asset-liability profiles. Now with it's new, more robust service, users can take advantage of more features, including report running and data analysis, the CU said.
"With today's highly volatile market environment, well-reasoned risk management is becoming more important than at any time, even for credit unions whose asset-liability profiles are fairly straightforward," said Shirley Senn, Southeast Corporate's director of consulting services.
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Southeast's ALMonitor Online generates reports using NCUA 5300 data and allows credit unions to perform interactive gap analysis. The credit union manages the system itself and only needs to input very general cash flow information via a password-protected Web site.
"Regardless of the size or makeup of a credit union, interest rate risk is part of every balance sheet," Senn said. "With diverse loan products, complex pricing structures and a wide variety of investment choices, credit unions' decision-making processes are more complicated and examiners are strongly encouraging them to monitor the risk on their entire balance sheets." That makes it vital to have access to the tools and analysis offered by the new version of ALMonitor that can assist them in actively monitoring and measuring risk, she added.
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