Oct. 11 has been set as the date for the $72 million South Bay Credit Union in Redondo Beach, Calif., to convert to the CU*BASE core processing platform through CU*Northwest of Spokane, Wash.
"We had little investment in technology over the last several years. This has resulted in numerous manual processes, slower service delivery times, mounds of wasted paper, expensive file storage and clunky home banking solutions. We needed to bring the credit union to the new millennium," said Jennifer Oliver, South Bay CEO.
"We can now provide our members with new products including mobile banking, text notices, relationship pricing benefits, integrated statements/receipts, enhanced bill payment solutions and speedier processing times," she said.
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Oliver also cited having ownership equity a CUSO that "encourages credit unions to act together to bring real economies of scale without merger."
South Bay CU currently runs on the UltraData core platform from Harland Financial Solutions, according to the Technology Survey at creditunions.com. The 8,000-member credit union serves the South Bay area of Los Angeles County.
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