Preparing the NCUA 5300 Call Report can be tedious and time-consuming. Central Keystone Federal Credit Union saves time and effort in completing this task by using Wisdomâ„¢: 5300 Call Report Assistant from Fiserv.

Challenge

Central Keystone Federal Credit Union was spending too much time, often two full days, completing the NCUA-required 5300 Call Report. The credit union was eager to reduce the time and effort needed to complete this quarterly task and also to free up staff to work directly with members.

Solution

Central Keystone was one of the first credit unions to implement Wisdom: 5300 Call Report Assistant. By seamlessly integrating with the Charlotte account processing platform and pulling data from other sources the credit union uses, the solution automatically gathers nearly all of the data Central Keystone needs for report preparation, practically eliminating manual data entry.

Proof Points

Since leveraging the fully integrated Wisdom: 5300 Call Report Assistant  solution and renewing its many-year commitment in December 2012, the credit union has improved operations in key ways:

  • It has slashed the time for preparing reports by 80 percent, from two full days to about a half hour
  • It now spends less time preparing reports and more time serving members
  • It functions like a larger credit union despite the small staff
  • Its examiners have a short, smooth experience performing their responsibilities, causing minimal disruption to the credit union's principal activities

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