The CEO of a small Los Angeles credit union said she is living large after co-developing an iPhone mobile banking app with her new core processor.
The $70 million South Bay Credit Union worked with CU*NorthWest, a CUSO based in Liberty Lake, Wash., that offers the CU*BASE core processing system from CU*Answers in Grand Rapids, Mich.
South Bay got browser-based and text mobile banking when it converted last fall but wanted its own smartphone apps.
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"Greedy me, I said I wanted my own app so my members can see my icon on their phone, check their balance, make transfers, pay their bills and have South Bay Credit Union a part of their visual landscape every day," said CEO Jennifer Oliver.
Greg Smith, CU*NorthWest's CEO, took the idea to the cuasterisk.com network, which offered to share in the development costs.
"Here is a credit union that jumps to action and we want to encourage that behavior in our credit unions," Smith said. "Keeping credit unions viable in today's market requires action and innovation. South Bay has both."
Now, Oliver said, "I can send an email blast from my new software to all my members and they can go get my app. I feel small but mighty today."
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