Alexander Sloan gets New Year off to flying start with major improvements to Credit Union toolkit

It has launched a comprehensive update of its Credit Union Risk Evaluation software called CURE+ which will keep credit union staff and directors up to speed with compliance requirements in Britain’s most inclusive and community-based financial institutions.

It is a key part of Alexander Sloan’s recognised contribution to its many clients in the credit union sector which, in Scotland alone, has one in 20 of the population as a member, and one in five in the major city, Glasgow.

Steven Cunningham, Technical Partner and Head of Credit Union Services at Alexander Sloan, said: “Credit unions play a vital role in creating accessibility to financial services for people who might otherwise be excluded.

“There are 113 credit unions in Scotland serving more than 250,000 people. They have attracted £200 million in savings and have £170m out on loan. UK-wide, total assets are in the region of £1.32 billion.

“At Alexander Sloan, we act for many credit union clients, and we are continually looking to improve our services. With this aim, CURE+ introduces many new features, particularly in relation to compliance.”

The credit union website www.creditunionupdate.com now has a resources page and short introductory training videos can be accessed from this site or Alexander Sloan’s new YouTube channel.

The updated software now comes with many new features to help credit unions document risk appetites and monitor performance. It has a monthly compliance checklist and a powerful reporting function.

Other new features include a template which can be used to create a documented system of control from the risk register and the facility for multiple users with different access rights. As before, the software comes with numerous easy to understand reports.