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Looking for ALM/Budgeting/Profitability Software

  • 1.  Looking for ALM/Budgeting/Profitability Software

    Posted Aug 21, 2020 07:30 AM

    We have different software for ALM, Budgeting, and Profitability. However, I'd really like to get the three of these processes using the same software (or at least related software that uses the same assumptions so we don't have to re-enter, etc). What options are out there? Is anyone really happy with their solutions?

     

    Thank you!


    Niki Schaumberg

    Chief Financial Officer
    Fox Communities Credit Union
    3401 E. Calumet Street Appleton, 54915
    P: 920-993-3753 | E: nschaumberg@foxcu.org





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  • 2.  RE: Looking for ALM/Budgeting/Profitability Software

    Posted Aug 22, 2020 03:59 PM
    From about 1994 until 2018 we used various in-house software (CUNA Mutual's "Model Management", later ProfitStar) to do ALM, budgeting, and branch profitability on one system. It worked reasonably well, however we grew in size & complexity and felt it was too laborious to truly do what-if ALM modeling in-house and switched to ALM First for that service. We have continued using ProfitStar for budgeting and branch/center profitability. However, by the end of this year (we broke $1B assets in Feb 2020) we will have converted to Axiom for budgeting and branch/center profitability, as well as primary financial reporting. I think the feasibility of doing all three functions on one platform may be a function of size and complexity, particularly the ALM aspect. I'd say our experience with ProfitStar was generally positive, so you could explore that as an option for two or all three of the functions you're considering.

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    Paul Meissner CCUE
    SVP/Chief Financial Officer
    Credit Union of America
    Wichita KS
    316.265.3272
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