Credit Unions, Tech Vendors Convert, Renew and Upgrade Systems

Many credit unions recently completed or signed for core system conversions, upgrades or renewals. Here is a look at some of the latest reported technology moves.

The Bartlett, Tenn.-based First South Financial Credit Union ($570 million) announced the release of the Berkeley, Calif.-based Access Softek’s omnichannel account opening product to maximize completion rates through options such as A/B testing, workflow personalization, behavioral marketing, retargeting, omnichannel reach, advanced analytics and minimized data entry.

The Hilliard, Ohio-based Credit Union of Ohio ($143 million) signed with online and mobile banking provider Bankjoy in Royal Oak, Mich., to provide members with an omnichannel banking experience. The Edwards, Calif.-based Edwards Federal Credit Union ($197 million) also signed with Bankjoy to enhance its digital banking experience.

The Louisville, Ky.-based BSG Financial Group, a revenue-enhancing program provider, announced the $129 million Jacksonville, Fla.-based Coastline Federal Credit Union selected BSG’s CourtesyConnect/CourtesyLimit technology to help the financial institution update and improve its existing overdraft management technology.

To increase its core functionality, the Richland, Wash.-based HAPO Community Credit Union ($1.5 billion) signed to convert to the San Diego-based Corelation’s KeyStone in spring 2019. HAPO Community’s goal was to provide technology that makes its employees’ jobs easier, which can result in better service to members.

The DeKalb, Ill.-based Northern Illinois Federal Credit Union ($16 million) went live with the Layton, Utah-based CUProdigy’s cloud-based core processing system platform. NIFCU sought to upgrade from an antiquated system, which still used batch processing for its ATMs and online banking, to an affordable, real-time platform to remain competitive. The Silver Bay, Minn.-based North Shore Federal Credit Union ($167 million) also recently selected CUProdigy to replace its outdated core data processing system. NSFCU wanted to move from an in-house system to a 100% cloud-based platform.

The Vienna, Va.-based CUSO CU Rise Analytics, which provides data science and technology advancement solutions, announced a partnership with the Plymouth, Minn.-based OnApproach, a provider of data and analytics solutions for credit unions. The companies said this strategic partnership offers an end-to-end solution for data storage, analysis and actionable insights.

The West Palm Beach, Fla.-based OpenClose, a browser-based loan origination system and mortgage provider, announced the $2.3 billion, Tullahoma, Tenn.-based Ascend Federal Credit Union leveraged its LenderAssist LOS platform and DecisionAssist product and pricing engine to simplify its mortgage processes, ensure compliance, improve efficiencies, maximize productivity and reduce costs.

The Brookfield, Wis.-based financial technology provider Fiserv announced the Sioux City, Iowa-based Sioux Valley Community Credit Union ($29.8 million) and Coulee Dam (Wash.) Federal Credit Union ($135.6 million) selected Portico ASP. Both credit unions looked to create enhanced member experiences and streamline their IT processes. Sioux Valley Community will also implement Fiserv’s debit and credit processing, digital and mobile banking, and bill payment solutions. Aside from the core system, Coulee Dam FCU added Fiserv’s online banking and loan origination products.

Fiserv also announced the $7.6 billion, Jacksonville, Fla.-based VyStar Credit Union will implement an enhanced mobile banking platform that includes alerting and card control functionality for debit card users. The VyStar mobile app includes a companion Card Controls App integrated via a single sign on.

The Atlanta, Ga.-based Gro Solutions announced the Washington, D.C.-based Congressional Federal Credit Union ($964 million) chose Gro Checkout, a component of the company’s cloud-based Digital Sales Platform, to streamline its digital onboarding workflow and create a simple and intuitive user experience for mobile users.

The $550 million, Janesville, Wis.-based Blackhawk Community Credit Union launched the Rahway, N.J.-based IMM’s eSign plus to provide members with an enhanced digital experience in the branch and remotely. The credit union points to IMM’s eSignature platform’s ability to integrate with all of its business systems, particularly its Symitar Episys core, as one of the key drivers of the decision. The $321 million, Baton Rouge, La.-based Essential Federal Credit Union also expanded its IMM eSign implementation to enable real-time, electronic remote signing.

The Monett, Mo.-based Jack Henry & Associates’ Symitar division announced the $2.6 billion, Newport News, Va.-based Langley Federal Credit Union’s conversion to the Symitar Episys core system. Langley sought greater automation and added flexibility from its core. With PowerOn, the credit union can configure changes within the protection of the core system, but independent of the core code. The credit union is also implementing jhaEnterprise Workflow and Advanced Reporting for Credit Unions.

The Farmington Hills, Mich.-based CUSO Member Driven Technologies announced the $91 million Lanco Federal Credit Union implemented the Symitar Episys core processing platform hosted by MDT. Lanco said it will benefit from more widespread automation, while saving time and boosting efficiencies across several areas of the institution.

The $2.97 billion, Westbury, N.Y.-based NEFCU introduced account-related, voice-banking capabilities over Google Assistant and Amazon Echo devices. This enabled members to manage accounts directly from their virtual assistants at no extra cost and includes several transaction information services.

The Hightstown, N.J.-based NJCUL Services Corporation, a subsidiary of the New Jersey Credit Union League, added Servion Mortgage, a Brighton, Minn.-based CUSO offering mortgage services, as a preferred solution provider to more than 150 credit unions across New Jersey. The league wanted a solution that allows credit unions to present government-type mortgages to members. Servion Mortgage offers conventional, jumbo, USDA, FHA and VA loans to credit unions.

The Princeton, N.J.-based njBIZloan Connection, LLC announced the $346 million, Ewing, N.J.-based Credit Union of New Jersey and the $96 million, Deepwater N.J.-based Deepwater Industries Federal Credit Union joined njBIZloan Connection’s new member business/commercial lending venture.

The $165 million, Newtown, Pa.-based Inspire Federal Credit Union selected the Miami, Fla.-based NYMBUS’ full suite of core, digital and payments solutions. Inspire, formerly known as Bucks First Federal Credit Union, wanted to transition away from a legacy core provider and replace outmoded technology.

The St. Petersburg, Fla.-based CUSO PSCU announced the $1.56 billion, Dunedin, Fla.-based Achieva Credit Union has come on board as PSCU’s newest owner. PSCU will provide in-house credit and debit processing support, ATM terminal driving and bill pay solutions.

The Memphis, Tenn.-based CUSO Share One recorded six contract renewals for its core processing system, NewSolutions, over the first six months of 2018, including Cascade Community Credit Union ($225 million, Roseburg, Ore.), Lutheran Federal Credit Union ($18 million, St. Louis, Mo.), Northern Kentucky Educators’ Federal Credit Union ($19 million, Highland Height, Ky.), Emery Federal Credit Union ($160 million, Cincinnati, Ohio), Cove Credit Union ($62 million, Edgewood, Ky.) and Link Federal Credit Union ($18 million, Indianapolis, Ind.).

The $978 million, Vancouver, Wash.-based iQ Credit Union selected the San Diego, Calif.-based digital printing and mailing operation firm Xpress Data to provide a superior level of statement processing.