Execution through shared resources and staff

What Xtend SRS Bookkeeping Services is all about...

Xtend SRS stands for Shared Resources and Staff. Our Bookkeeping Services offering is designed to help credit unions of all sizes achieve higher levels higher levels of productivity and by outsourcing routine balancing tasks to our experienced SRS team. Utilizing this service should allow more of your staff’s time to be focused on revenue generation and member service activities.

Why Xtend SRS Bookkeeping Services is important to Your Credit Union...

Consistency . . . Based on the Balancing Made Easy booklet designed by CU*Answers, as well as the tailored run sheets established with your team during the pre-site interviews, our SRS staff will perform daily balancing, settlement, and exception review activities as a trusted extension of your staff.

Focus . . . The staff at most credit unions is asked to wear multiple “hats” during the course of the business day. Since our SRS bookkeeping staff’s sole responsibility is to ensure the books are balanced, we are able to stay focused on only these tasks. Flexibility . . . And what about the added challenge of managing attrition, vacations, extended leaves of absence, and illness? Our SRS staff can be called on to perform these same balancing tasks on a stand-in basis to help you avoid a potential crisis.

Reduced Cost . . . Our SRS staff has spent several months creating a definable , repeatable process that leverages CU*BASE and allows us to complete routine balancing activities for several credit unions during the business day. This aggregation means that we can provide this service at a very low cost to each credit union.

What Bookkeeping Services we provide...

Tailored . . .Our task list varies by credit union and will be defined during a pre-site interview with your staff. Typical daily tasks may include:

Balancing member records to primary and accrual GL’s
Balancing Teller system to change fund
Corporate check/money order reconciliation
Performing daily ACH, ATM, CU*EasyPay, and Share Draft settlements to the GL
Reconciling expense GL’s
Reviewing dormant account activity
Reviewing daily exception reports

How do we Get Started? . . .

Turnkey . . . The process starts with an effective implementation. Our SRS Bookkeeping Team has developed a proven methodology to efficiently convert you over to this service. From the tailored run sheets that are created with your staff during the pre-site planning process, to the daily recap sent after the first “live” day, our goal is to provide a turnkey implementation with minimal staff disruption.

Ongoing . . . Daily communication will take place with your staff to help reconcile any offages. Our goal is for your team to quickly recognize our SRS bookkeepers as a vital and trusted extension of your staff. This is achieved by maintaining effective two-way communication between the two teams.

Evolving . . . Because our specialists are required to participate in periodic CU*BASE training, we are ready to implement new functionality as appropriate. As you implement new policies and/or products, our Bookkeeping Team will work with your staff to tailor our service as needed.

Who do I contact to learn more about SRS Bookkeeping Services? . . .

We encourage you to speak with your peers who are utilizing this service. To find out who is using this service, or simply to learn more, please contact Scott Collins via our contact form or phone at 1.800.327.3478 ext. 183.

Documented . . . Our Bookkeeping staff utilizes well-documented run sheets to perform these daily tasks. The advanced functionality of CU*BASE allows us to input the proper GL descriptions, offsets, and reconciliation procedures to assist both staffs. Since we provide assurances to the proper regulatory authority regarding the auditable nature of these services, we will provide assistance with audit preparation on an as-needed basis. We also encourage periodic reviews by our credit union clients, as well as any suggestions to help improve this service.