ATLANTA, July 22, 2014 – CetoLogic, a leading provider of software and analytics for financial institutions and retailers, announced today that Ridgecrest, Calif.-based AltaOne Federal Credit Union, with more than $580 million in assets, will implement its leading cash management and predictive analytics solution, C3 Financial, to align cash levels with member demand and streamline its cash management processes with C3 Financial’s central requisition console and file extracts to submit to the Federal Reserve Bank’s FedLine® Web.
“Our previous cash management process was time-intensive and manual, where branches ordered cash based upon intuition or previous experience,” said Beverly Wagner, vice president of Member Services for AltaOne Federal Credit Union. “C3 Financial will drastically reduce our cash levels by providing our branches with order and deposit recommendations based on member demand, as well as streamline processes that once required at least four employees between retail and accounting departments to complete.”
C3 Financial’s central requisition console and file extract feature for FedLine® Web enables AltaOne employees to receive and approve accurate order recommendations, then easily send all cash orders in one file for the credit union’s 12 branches and 15 ATMs directly to the Federal Reserve Bank.
“AltaOne Federal Credit Union works with approximately $8 million dollars in cash to satisfy member needs across their footprint. By establishing a uniform and centralized process for work, we anticipate cash levels to decrease and operational workflow to decrease by at least 30 percent,” said David Austin, vice president of CetoLogic. “As interest rates prepare to take off in the near future, AltaOne has taken a significant step forward in the management of one of its largest non-earning assets in cash. Through use of C3 Financial, AltaOne FCU will experience sustained cash reductions and a more automated and streamlined process to significantly reduce personnel time.”
About AltaOne Federal Credit Union
AltaOne Federal Credit Union, headquartered in Ridgecrest, California, has been a safe and sound financial services provider since its inception in 1947 as the NOTS Employees Federal Credit Union. With over 51,000 members and $580 million in assets today, AltaOne provides a full range of financial services. Membership in AltaOne is available to people who live, work, worship, volunteer, own a business, or attend school in Northern San Bernardino, Kern, Mono, and Inyo Counties.
About CetoLogic
Atlanta, Ga.-based CetoLogic provides software solutions and analytics to financial institutions and retail organizations. CetoLogic proudly services the needs of more than 1,500 clients in 50 states and Canada by providing “Smart Solutions that Make Dollars and Sense.” CetoLogic is the designer of C3 Financial, a web-based cash forecasting and management software. CetoLogic also pioneered Deposit Reclassification, a retail sweep program designed to eliminate reserve balances. CetoLogic’s solutions improve earnings, efficiencies, risk management and operations. For more information about CetoLogic’s solutions, call 1.877.495.0687.
