Credit Union of Southern California Reclaims Critical Month-End Bandwidth and Drives Real-Time Visibility Across Hundreds of Accounts

THE CHALLENGE FOR CU SOCAL

Overcoming Manual Burdens Amidst Rapid Scalability

The rapid trajectory of CU SoCal—which saw the organization nearly double in asset size in just under four years—eventually outpaced the team's traditional accounting workflows. As the volume of transactions swelled, the reliance on disparate tools like DocuSign and internal email threads created a bottleneck that threatened the team's efficiency and visibility.

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“What really triggered the need for automation was the manual burden of reconciliations and balancing. We relied on DocuSign and email, which could no longer keep up with our scale.”

— Ninyus Youkhanneh, VP, Controller, CU SoCal

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For a multi-billion-dollar institution, the manual burden was the primary catalyst for change. Without a centralized system, there was no real-time way to track progress or identify issues before they escalated. As Ninyus noted, “When you’re balancing hundreds of accounts, email simply doesn't provide the visibility or the speed required for a multi-billion-dollar institution.”

HOW FLOQAST HELPS

Achieving Scalable Efficiency

Faced with these growing inefficiencies, the team explored software options including BlackLine and Trintech. FloQast emerged as the clear winner due to its user-friendly interface tailored for credit union complexities and the superior responsiveness of its support teams.

A critical component of the solution was the ability to integrate directly with the credit union's ERP, Jack Henry’s Symitar. The team leveraged FloQast Variance Analysis to establish a live, automated feed of financial updates. This technical shift allowed the team to move away from tedious data entry and toward high-level analysis.

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“Having that automated feed simplified our entire process. It effectively cut down four to five hours of manual work every single month, allowing the team to focus on the numbers rather than the process of finding them.”

— Ninyus Youkhanneh, VP, Controller, CU SoCal

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Like all financial institutions, CU SoCal operates under heavy regulatory oversight. FloQast played an integral role in addressing compliance challenges by bringing clarity to reconciliations. The platform’s built-in variance analysis trend feature empowered the team to recognize unusual swings early in the process—a capability imperative for catching potential financial discrepancies in a tightly monitored industry. As Ninyus explained, “In FloQast, reconciliations update in real-time and require sign-off for completion. This visibility eliminates delays in tracking progress, allowing the team to identify and address any concerns before they escalate.”

The implementation was supported by a FloQast team that prioritized the unique needs of a credit union. During the RFP process, FloQast answered every question thoroughly, even accommodating specific banking requests. Furthermore, the team has leveraged continuous updates to the platform, such as the ability to transfer prior months’ variance explanations in real-time.

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“The focus on continuous enhancement ensures the system evolves to meet our changing needs. The level of professionalism impressed us and made FloQast the go-to choice.”

— Ninyus Youkhanneh, VP, Controller, CU SoCal

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THE FLOQAST DIFFERENCE

Driving Strategic Impact and Cultural Transformation

The implementation of FloQast has delivered a multifaceted impact, ranging from measurable time savings to a total transformation of the team's culture.

Efficiency and Financial Impact

The credit union has achieved significant improvements across efficiency and compliance. By automating variance analysis and streamlining month-end checklists, CU SoCal reduced its monthly close timeline from six days down to five.The precision of the tool has also mitigated risk by ensuring items are handled within appropriate windows.

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“We’ve written off stale-dated items within appropriate timelines due to FloQast’s reconciliation item tracker. That level of efficiency and compliance support is game-changing in our environment.”

— Ninyus Youkhanneh, VP, Controller, CU SoCal

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Beyond technical accuracy, FloQast has fostered a more efficient and empowered accounting team. By reducing the likelihood of missed tasks, the software has freed up bandwidth for ongoing strategic projects and upskilling. Staff can now focus on project implementations or tackling other process efficiencies because reconciling items flow through FloQast without the need for "guessing."

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“FloQast has brought peace of mind to the team. They no longer have to operate under tight, stressful timelines for reconciliations and variance analysis. That kind of stress relief is invaluable.”

— Ninyus Youkhanneh, VP, Controller, CU SoCal

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For CU SoCal, FloQast’s impact is indispensable. By supporting scalable growth and maintaining vital internal controls, FloQast has proven itself as a trusted partner in the credit union industry. The absence of the solution would be felt immediately across the entire organization; as Ninyus noted, “If FloQast disappeared tomorrow, we’d feel the difference immediately. The amount of added stress, risk to error, and manual labor would undo so much of what we’ve achieved.”