Two Southwest Ohio CUs Convert to OSI Platform, Form CUSO
GLASTONBURY, Conn. - A pair of southwest Ohio credit unions are moving onto Open Solutions Inc.'s core processing platform and forming a CUSO to increase their own efficiencies and re-sell OSI technology in their area. The credit unions are $142 million AurGroup Financial Credit Union in Fairfield and $120 million CINCO Family Financial Center CU in Cincinnati. CINCO, one of the clients OSI acquired when it bought the Liberty FiTECH core processing unit, is currently migrating to OSI's The Complete Credit Union Solution (TCCUS). AurGroup Financial has been an R.C. Olmstead Client, according to Callahan's 2004 Credit Union Technology Survey. The new CUSO will be called Shared Resource Technology Group. In addition to sharing the costs and benefits of acquiring a new core system, the credit unions plan to market OSI technology to credit unions in Ohio and Kentucky with less than 10,000 members. Two billion-dollar credit unions, New York's Bethpage FCU and Colorado's Bellco CU, already have formed a CUSO to jointly develop and market OSI technology. Theirs is called Open Technology Solutions.