MDT Gets Tax Credit, New CU Clients
Member Driven Technologies, a suburban Detroit provider of the Symitar core processing platform, said it has converted two more credit unions and won a tax credit from the state of Michigan to build a second data center.
The $557,092 state tax credit is for five years and was approved by the Michigan Economic Growth Authority board this week "to convince the company to expand in Michigan over a competing site in Colorado," according to the office of Gov. Jennifer Granholm.
The new data center will be in the Detroit suburb of Southfield, joining the original center in nearby Warren, Mich. As many as 233 total jobs will be created by the $6.4 million project, including as many as 101 directly at MDT, Granholm's office said in the announcement.
Meanwhile, MDT said it has converted its 46th and 47th credit unions to Jack Henry & Associates' Symitar Episys core processing platform through its data center operations.
They are the $75 million Family Financial CU in Muskegon, Mich., and the $189 million Olean Area FCU in Olean, N.Y. Family Financial had been using a Fiserv Galaxy core processing platform while Olean Area FCU had been running on Fiserv Advantage, according to the Callahan & Associates Technology Survey.
"We are glad to have the fine folks at Family Financial and Olean Area join our family," said Larry Nichols, MDT's president/CEO. He said it was the ninth conversion this year for MDT, which was formed in 2003 by a group of seven Michigan credit unions.