Aux and Accolade Partner to Provide No-Cost CECL Webinar for Interested Credit Unions
July 25th, 2022
Credit union folks have a lot of questions about how our accounting assistance and CFO-level services work. And we get it – it’s kind of a unique thing. If you are looking for full-service accounting assistance for your credit union, no one holds a candle to the breadth and depth of our flagship shared services offering.
In fact, many credit unions don’t even know that you can outsource your accounting or specific services and projects (and that’s a crying shame!)
That being said, we wanted to take a few moments to answer common questions about how outsourcing your accounting actually works.
Q: We lost an employee and need help with their former job duties. How can you help fill the gap?
A: Aux’s accounting services are offered al a carte. You can select from a wide range of services by choosing the ones that fit your needs. We know every credit union is different and we work hard to meet your individual needs.
Q: We are having a hard time hiring a new accountant. Do you offer temporary services?
A: We do! But 9 out of 10 times our clients find that they are happier outsourcing the work to Aux long-term. We have a very experienced staff and train our employees 3 deep on every process to make sure your work is done on time, every day, headache free.
Q: Our corporate account reconciliation has fallen behind. Can you help us catch up our reconciliations?
A: Absolutely! We will get everything caught up to date and that DOR will be a distant memory in no time. And we don’t just catch it up and walk away, we stick with you to make sure it’s reconciled daily going forward as well.
Q: We’re 3 months into our contract and another employee has left. Can we add additional services? Or do we need to wait until contract renewal?
A: We know how hard it is to keep a credit union running smoothly. We’re happy to help in any way we can. We’re the people that help the people. If we need to adjust course, we’re happy to do that.
Q: I have a really good employee, that I don’t want to lose. Can Aux help with daily processes so my accountant can learn new skills?
A: This is our favorite scenario. We enjoy working with your team. We don’t want to replace anyone. We want to fill the gaps and allow your staff more time to learn and grow and serve your members.
Q: How does the set-up work? Do we need to send you statements, etc. every day?
A: We offer a secure VPN feature that will allow us to work as if we were sitting right outside your office. Our credit unions generally set us up with access to the core system, reporting systems, etc. to allow us to work autonomously. We’ll reach out if we have questions, but most days the work is done without any effort from you or your staff.
Q: We constantly have issues balancing our ACHs. Does Aux help credit unions with process improvement?
A: Yes, at Aux we will review the process start to finish and work with your team to determine the most effective, efficient process for your credit union.
Q: We need help at a strategic level with planning and budgeting. Does Aux offer strategic resources?
A: Yes, at Aux we have a team of highly qualified CFOs that will work with your credit union to develop strategies that fit your needs.
Q: I need an ALM partner. Does Aux provide ALM reporting?
A: We have partnered with Accolade to provide quarterly ALM reports for your ALCO and Examiners.
