Skip-A-Pay

The fully-automated, hassle-free skip process

For credit unions, offering a skip-a-payment option is a great opportunity to generate income from loan skip fees. However, because of the paperwork, the back and forth with members, and the wasted customer service hours involved, that potential revenue stream goes untapped. Skip-A-Pay, by CUBUS Solutions, eliminates all the hassles of manual skips by automating the loan skip process and instantly saves you countless hours of staff time. The typical manual process takes about 15 to 45 minutes per skip. With Skip-A-Pay, the entire skip is completed in just minutes.

The Benets of Skip-A-Pay

For Credit Unions
Fully-automated qualication process, due date advancement, payment scheduling and fee tracking Increased revenue through deferred payment fees

A Simple 3 Step Process

Skip-A-Pay simplies the process into just 3 easy steps. 1. Select the loan 2. Agree to terms and choose fee/payment options 3. The skip is conrmed

Reduced staff costs, less member service hours Total control over member qualication criteria Staff members can process skips from their workstations

Its that simple. And, because everything can be done online, members avoid the face-to-face embarrassment in requesting a skip and are more likely to take advantage of the program.

Powerful Loan Skip Features

Let CUBUS help you unleash the earning potential of your skip program, with: Seamless Interface with Core Systems Skip-A-Pay integrates with your core data system and can be hosted in-house or online. Skip-A-Pay can be rapidly deployed with remote installation and remote training for your staff. Automatic Processing Skip-A-Pay automatically determines if the member is qualied to skip the loan, extends the loans maturity date, advances the due date, payment date, and any internal or external pre-authorized payments. User friendly staff and member capabilities Members and staff access the same user interface. Your staff can process a skip directly from their screen and use a variety controls, based on permissions that the credit union selects. Sophisticated Member Eligibility Criteria Pre-qualify members based on criteria that you set and control, such as: Length of time/amount accounts are overdrawn or delinquent, bounced email addresses, or create custom qualiers.

A Variety of Fee Options With Skip-A-Pay, your credit union has the option to charge a at fee per skip, offer a package rate for multiple skips, or tier the fees based on loan balance or payments. Automatic Payment Options Members can choose to have their skip fee automatically deducted from a share or checking account, or add it to their loan balance. Robust management tools Skip-A-Pays reporting tools can perform audits or generate standard reports, such as: Reports by members, payments audit, ACH audits, ACH exceptions and payment or fee exceptions. Support for Collections Department Collections can use Skip-A-Pay to advance the loan due date, determine charges to be applied, and use the reporting tool to look up skips by members, accounts, or other criteria. Preset Loan Qualiers and Limits Your credit union can preset the number of consecutive skips, skips per year, skips in the life of a loan, days an account must be open, and even set a skip grace period for after the loan is due.

For Members
Round-the-clock, online access to request a skip The anonymity of an online process eliminates any potential embarrassment The ability to better manage nances Financial relief from a payment when needed

For more information or to schedule a demo

Call: 925-606-8708 Email: sales@cubussolutions.com

Skip-A-Pay Success
Redstone Federal Credit Union In 8 weeks of 2012 Redstone Federal Credit Union more than tripled their loan skip revenue from the same period in 2011. Processed thousands of skips in less than 1/2 the time Revitalized skip revenue stream
Redstone Federal Credit Union, headquartered in Huntsville, Alabama, is one of the 25 largest credit unions in the country with over 350,000 members and $3.4 billion in assets. We have simultaneous objectives of increasing fee income, reducing costs, and enhancing member convenience. Skip-A-Pay lets us satisfy all of those. John Cook Vice President of Lending, Redstone Federal Credit Union

Tech Specs
Operating System Windows Server 2008 Deployment In-house, Hosted, VMware Security Federated identity management using Claims Based Authentication and X.509 certicates DBMS Windows SQL Server 2008 R2 User Interface HTML, CSS, and JavaScript Framework Microsoft .NET 4.0 and ASP.NET MVC Supported Browsers Chrome, Safari, Firefox and Internet Explorer Supported Mobile Platforms iOS (iPhone/ iPad) and Android

Achieva Credit Union Saved 2,560 staff hours Signicantly increased non-interest income from skip fees Expanded skip program to more members
Achieva Credit Union has approximately $980+ million in assets and over 100,000 members. Achieva has 14 locations in four counties, with its eld of membership covering nine counties. Skip-A-Pay has given us a cost-effective way to expand our loan skip program. Now we can put the power in our members hands and they can choose when they need the relief the most. John Wintermeier Senior Vice President, Achieva Credit Union

The CUBUS Difference

CUBUS Solutions is headquartered in Livermore, CA, and provides a powerful online banking platform for credit unions that integrates online banking, payments and nance management in one single interface. What makes CUBUS different? CUBUS and its online banking platform were built by executives and engineers with decades of combined experience with core data systems and the banking industry. CUBUS is a trusted solution provider with more than 10 years of proven success with its clients.

To learn more or download the case study, go to:

cubussolutions.com/skip

2013