GRAND RAPIDS, Mich. (8/12/10)--CU*Answers announced that it will provide core processing services for its first credit union in West Virginia, WV United FCU, Charleston. The credit union service organization also announced several new regulatory tools. The $29-million-asset WV United FCU will upgrade to the CU*BASE core data processing system during the fourth quarter. CU*Answers is based in Grand Rapids, Mich. CU*Answers’ new tools include:
* A fee analysis by Opt In/Out status feature for CU*BASE. The tool provides an analysis of the potential impact on fee income of Regulation E, which involves overdraft protection. The tool will show members who have opted in or out who also generated fee activity from January to June; and * The capability for credit union members to select their opt in/out status on It’s Me 247 online banking. The new page allows members to select their overdraft protection options.
CU*BASE also noted a core processing software upgrade. CU*Answers implemented statement changes in accordance with Regulation Z, or Truth in Lending, and added opt in/out features for Regulation E, the company said.