ATLANTA– CetoLogic, a provider of software and analytics for financial institutions, reported that $4.5 billion, West Jordan, Utah-based Mountain America Credit Union has reduced its cash levels by more than $7 million since implementing CetoLogic’s C3 Financial cash management and forecasting solution.
CetoLogic said its C3 Financial uses historical data to provide Mountain America Credit Union with accurate branch cash order recommendations through its forecasting engine, which anticipates individual branch cash needs by predicting future member activity, enabling better management of the credit union’s cash inventory throughout its 84 branch locations.
“Our $7.1 million cash reduction translates to an average branch cash reduction of nearly $85,000, allowing us to redirect this excess cash from our branches to alternative investments and lending,” said Daniel Phillips, SVP of Finance and Controller for Mountain America Credit Union.