Fin-Alysis is a tool for tracking and analyzing key financial trends at the credit union. Pricing services, setting rates, costing savings programs - they require more information than is available on your normal balance sheet income and expense statements. To make sound decisions, your credit union needs trends, ratios, and a method to make a forecast. You need reliable predictions based on sound assumptions. Fin-Alysis pulls information from the financial statements and the financial reports, laying it out in a spread sheet format that is easy to read and understand.
Credit unions on the Fin-Alysis program send financial statements and supporting data to the League each month. Consultants analyze the data and produce several computer-model reports:
Credit unions can't afford to gamble on decisions about introducing new services or pricing existing ones. But there are many demands on the time of management, staff and volunteers. The information needed to make a decision on just one new program can require the manager's precious time researching general ledger accounts, compiling information, and tracking information to update statistics.
Unlike other computer programs of this type, Fin-Alysis comes equipped with something special - people. The League consultants will back-up this program by assisting in gathering information and by interpreting the computerized results.
The human support staff, which is so important in making any computer-assisted system work is already in place at the League. For example, if the board needs help in interpreting key trends appearing in the reports, a League consultant will be available to present the reports, to explain what the numbers mean and to review the credit union's options.
For more information about this fee-based program, contact a League consultant.