Three CUs Commit to Open Solutions Platform
Two of the credit unions now use core platforms from companies Open Solutions had earlier acquired: the $54 million Premier Financial CU in New Holstein, Wis., (Liberty FiTech) and the $26 million Eaton County Educational CU in Charlotte, Mich., (CGI). The third, the$29 million Desertview FCU in Huntington, Utah, is currently running on a CUSA Technologies core platform, according to the credit unions' 5300 Call Reports on the NCUA Web site.
All three will be using the standard market edition of the platform and cited the need for a more advanced, user-friendly data processing platform, the company said.
"As the only credit union in Holstein, [we] compete solely with local banks for business. To remain competitive and increase our member wallet share, we needed a system that would support new products and services," said Jerry Tiedt, president of Premier FCU.
Open Solutions provides core processing and other integrated technology products and services to more than 5,800 credit unions in the United States and globally, the company said.