Central Keystone FCU
By Joyce Moed, Reporter

SUNBURY, Pa.–Like many other credit-union leaders, Kris Kauffman, CEO of Central Keystone Federal Credit Union, was forced each quarter to devote a significant amount of his time and energy to the 5300 Call Report for the National Credit Union Association.

Preparing the 5300 Call Report was always a tedious process, Kauffman said, as everything, including its expenses, loans and investments, had to be entered manually. In all, there are almost 600 line items included in the report and with all those details to locate, input, and double check, so it was very time-consuming.

Central Keystone FCU looked to its technology partner, IntegraSys, for support and found that it was developing a timesaving solution called the 5300 Call Report Assistant. When Kauffman learned of this solution designed to make the 5300 Call Report easier, he quickly volunteered to become one of the first to use the new solution.

Once he got the system set up, the solution was able to automatically gather almost everything he needed to complete the quarterly report–from general ledger to AlM to host data.

Each quarter, the 5300 Call Report Assistant saves Kauffman time by automatically pulling data from seven different sources including the CU’s core-processing system and other areas necessary to compile the report.

By leveraging the 5300 Call Report Assistant to streamline its quarterly report process, Central Keystone FCU has been able to devote more time to the business of serving its members. With its so many pieces and parts, the quarterly report used to take Kauffman a full two days to complete.
But today, Kauffman says he can usually complete the report “in less than half an hour.”

The 5300 Call Report Assistant performs cross-checks and balancing similar to those included in the NCUA 5300 Call Report software, and offers unlimited capacity to add notes for easy documentation. The solution interfaces offers convenient access to critical data including G/L account numbers, host share and loan types.

So now, Kauffman only inputs about 10 items manually each quarter, as opposed to all 584 items. By using the 5300 Call Report Assistant to automatically pull data from so many disparate sources and organize the information into a comprehensive, NCUA-compliant report, the credit union has reduced report preparation by more than 80%.

“I’m honored to be chosen for the Credit Union Journal’s Best Practice issue,” Kauffman said. “The 5300 Call Report Assistant is a great tool for streamlining accounting processes. It’s wonderful when technology can be applied in such a way that reduces a task that used to take days to requiring mere hours to complete. By implementing this automated report preparation solution, credit unions of all sizes can experience the same kind of tremendous time savings we have seen at Central Keystone Federal Credit Union.”

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