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From the March-20, 2002 issue of Credit Union Times Magazine • Subscribe!
Former M ONE advisors create new Cornerstone
<p>SCOTTSDALE, Ariz. - Several veteran consultants in the credit union space have left M ONE Inc. and formed a new firm, Cornerstone Advisors Inc. Technology and strategic project planning will continue to be a mainstay for the group, and they also will continue on with CUES Tech Port, a subscription Web site that provides feedback and forums for credit unions and vendors. Cornerstone Advisors (www.crnrstone.com) includes Steve Williams (managing director-strategic services), Carl Faulkner (managing director-financial services), Terence Roche (managing director-systems and operations) and Scott Hodgins (consulting manager), along with the CUES Tech Port managing director, Terry Treadwell, all financial services and M ONE veterans. Its president and CEO is Scott Sommer, an executive and attorney with 15 years of experience with professional services and technology companies. The consultants have worked with hundreds of credit unions and banks for more than 10 years. They specialize in "closing the gap between strategy and reality" in making change at organizations, especially in products and processes. Among recent projects, Cornerstone said, its advisors have facilitated a process reengineering review for a $3.3 billion credit union, managed an Internet banking vendor selection for a $3 billion credit union, managed a CRM vendor selection for a $500 million CU, developed a long-term technology plan for a $550 million CU and managed a core data-processing selection for an $800 million credit union. Credit unions benefit by getting unbiased help, Faulkner said. "We know vendors well. We know their pricing well. We know their history and experiences. And we don't really care who wins," he said. "We only really care that the credit union gets appropriate information about vendors and products and the risks associated with their decisions." In addition to continuing its ties with CUES ("With whom we've had a longtime relationship and enjoy working," Faulkner said.), they also will continue their irreverent GonzoBanker newsletter (www.gonzobanker.com), an outspoken look at the inner workings, quirks and machinations of the world of financial industry technology. Much of the material for those musings comes from the consultants' non-stop ramblings around the country, Faulkner said. "I would guess 75% of those columns are written on airplanes," he added.</p>
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