Twenty-Plus Vendors Complete Credit Union System Upgrades, Conversions

A number of credit unions recently completed or signed up for core conversions, financial technology upgrades, or other system overhauls or changes. Here is CU Times’ latest roundup of some reported moves.

Silver State Schools Credit Union ($760 million, Las Vegas, Nev.) selected the Peachtree Corners, Ga.-based Alogent’s ImagePoint and FASTdocs suites to replace legacy systems, and increase workflow automation around item processing and enterprise content management. ImagePoint enables Silver State Schools to improve digital check processing workflow with built-in fraud detection. FASTdocs helps build a strong digital ecosystem.

One Nevada Credit Union ($916 million, Las Vegas); Knoxville (Tenn.) TVA Employees Credit Union ($2.1 billion) and Northrop Grumman Federal Credit Union ($1.14 billion, Gardena, Calif.) will begin implementations of the Tampa, Fla.-based innovation catalyst/strategic consultant Best Innovation Group’s voice-first banking platform, FIVE, through a partnership between BIG and the Murray, Utah-based Connect Financial Software Solutions, an online/mobile solution provider. Also, Heartland Credit Union ($311 million, Hutchinson, Kan.) turned to BIG’s consulting division to help create a strategic goals program/roadmap for its data analytics transformation.

State Employees Credit Union of (Linthicum) Maryland ($3.6 billion) is expanding its partnership with the Rancho Cucamonga, Calif.-based CO-OP Financial Services to include ATM terminal driving and debit processing. In addition, SECU is consolidating two transaction processors to a single, more efficient operation. United Federal Credit Union ($2.6 billion, St. Joseph, Mich.) is adding nine of its branches to the CO-OP Shared Branch network. UFCU, with branches in Arkansas, Indiana, Michigan, Nevada, North Carolina and Ohio, seeks to add the member convenience of conducting transactions away from home.

The San Diego, Calif.-based core provider Corelation signed multiple credit unions to its KeyStone open platform for enhanced third-party integrations, built-in functionality and improved member experience. They include: Achieva Credit Union ($1.7 billion, Dunedin, Fla.); Cross Valley Federal Credit Union ($160 million, Wilkes-Barre, Pa.); Wheelhouse Credit Union ($283 million, San Diego); Fort Financial Federal Credit Union ($227 million, Fort Wayne, Ind.); Appalachian Community Federal Credit Union ($234 million, Gray, Tenn.); Mutual First Federal Credit Union ($95 million, Omaha, Neb.); HFS Federal Credit Union ($570 million, Hilo, Hawaii); Seasons Federal Credit Union ($159 million, Middletown, Conn.); Linn Area Credit Union ($483 million, Cedar Rapids, Iowa) and Solidarity Community Federal Credit Union ($252 million, Kokomo, Ind.). Also, Sandia Laboratory Federal Credit Union ($2.5 billion, Albuquerque, N.M.) converted from dual core processing systems to a single KeyStone platform.

Great River Federal Credit Union ($178 million, St. Cloud, Minn.) went live with the Layton, Utah-based CUSO CUProdigy’s open, cloud-based core processing solution. It will save the credit union $10,000 per month. Great River said the deal-maker was CUProdigy’s structure and transparent pricing model.

Michigan Legacy Credit Union ($205 million, Pontiac, Mich.) and the Los Angeles, Calif.-based ATM solutions provider FCTI announced a multi-year contract to provide dynamic on-screen marketing to the credit union’s cardholders at 7-Eleven ATM locations. The agreement provides Michigan Legacy with custom-branded messages through the screen upgrade feature of FCTI’s marketing and branding app.

Three Midwestern credit unions moved to the Brookfield, Wis.-based Fiserv’s DNA account processing platform to streamline workflows and eliminate time-consuming manual processes. Ideal Credit Union ($730 million, Woodbury, Minn.) did so to support its large indirect loan portfolio and integrate with other applications. TopLine Federal Credit Union ($460 million, Maple Grove, Minn.) was attracted to the person-centric DNA design along with the CRM, multi-channel marketing and other tools. Dakota West Credit Union ($268 million, Watford City, N.D.) recognized its need to expand with a new platform when its assets increased by 150% in five years as the local petroleum industry grew.

The Austin, Texas-based mortgage lending solution provider FirstClose added 65 new clients including Truliant Federal Credit Union ($2.5 billion, Winston Salem, N.C.) and integrated with multiple new vendor partners to close out 2018. Helping fuel this growth was a multi-million-dollar investment from Cypress Growth Capital. New features included enhanced decisioning logic and migration to cloud-based services.

The Sandy, Utah-based credit union core processor FLEX announced the conversion of Gulf Credit Union ($302 million, Groves, Texas), which realized steady growth and is now a first-choice financial institution for many people in the Golden Triangle of Texas.

The Monett, Mo.-based Jack Henry & Associates announced the expansion of its transactional voice banking services, and its Symitar division revealed more credit unions are continuing to certify its core-integrated Alexa skill, Episys FIVE, for voice-enabled transactions. Summit Credit Union ($3.2 billion, Madison, Wis.) is the latest to deploy Alexa. Jack Henry also introduced a voice-driven consumer bill pay solution, iPay QuickPay.

JHA also announced more than 115 financial institutions shifted to its ProfitStars division Gladiator Hosted Network Solutions, including 1st Northern California Credit Union ($710 million, Martinez, Calif.), which needed a more current data center; and Skyward Credit Union ($286 million, Wichita, Kan.), which wanted to update its servers.

The Austin-based digital banking platform provider Kony and Pennsylvania State Employees Credit Union ($5.3 billion, Harrisburg, Penn.) extended their ongoing partnership to deliver an updated digital banking application enhancing the member experience. The platform also delivers a seamless omnichannel experience across channels.

The New York, N.Y.-based integrated loan platform provider LoanStreet added Workers Credit Union ($1.8 billion, Fitchburg, Mass.) on the heels of announcing the close of $6.5 million series A funding. Workers CU turned to LoanStreet as an alternative funding source for its quickly-expanding loan operations.

The San Ramon, Calif.-based Lumin Digital, a PSCU company, inked a multi-year agreement with Consumers Credit Union ($1.09 billion, Kalamazoo, Mich.) for Lumin Digital’s cloud-based platform covering retail/business banking for desktop and mobile. This enables a nimble platform and the capability to quickly implement new functionality.

Member Driven Technologies, a CUSO that hosts Symitar’s Episys platform through its private cloud alternative, highlighted an eventful 2018, including five onboarded clients and a 7% member base increase. OUR Credit Union ($255 million, Royal Oak, Mich.) successfully implemented the Episys core through MDT.

The Lehi, Utah-based MX now gives more than 420,000 members of Lake Michigan Credit Union ($6.06 billion, Muskegon, Mich.) the ability to take control of their finances and track their progress. LMCU’s Budget Tool allows members to aggregate accounts from other financial institutions.

Fairleigh Dickinson Federal Credit Union ($12 million, Madison, N.J.) joined the Princeton, N.J.-based njBIZloan Connection’s member business lending/commercial loan referral program. FDUFCU seeks to offer business lending to members and the community.

The Albany, N.Y.-based New York Credit Union Association partnered with fraud and risk mitigation fintech Quatrro Processing Services to offer fraud detection to NYCUA-member credit unions at a preferred rate. QPS utilizes artificial intelligence and machine-learning technologies.

The Lombard, Ill.-based Raddon, a Fiserv company and provider of research, analysis and strategic guidance to financial institutions, announced in the past year or so that more than 150 financial institutions selected or implemented Integrator Advance to enhance consumer marketing. About 190 credit unions – including ELGA Credit Union ($661 million, Burton, Mich.) – committed to Integrator Advance.

Sunbelt Federal Credit Union ($214 million, Laurel, Miss.) chose the Memphis, Tenn.-based CUSO Share One’s NewSolutions core processing system to replace its current technology. Sunbelt plans to expand its membership via mergers and organic growth, and required a system that can scale effectively. Share One partners with many third-party vendors to deliver best-of-breed services.

Midcoast Federal Credit Union ($176 million, Freeport, Maine) signed multiple renewal agreements – including a seven-year contract for Symitar Episys core and three-year deals for share draft processing, and electronic credit and debit card services – with the Westbrook, Maine-based credit union-owned fintech company Synergent.

The Irondale, Ala.-based Corporate America Credit Union and Salt Lake City, Utah-based Visible Equity joined forces to offer CACU’s 500-plus members a current expected credit loss solution through Visible Equity’s analytics software. Corporate America members can access deposits, fair lending and marketing services, and peer and application analytics.