The $348,000 Stepping Stones Community Federal Credit Union in Wilmington, Del., has joined the “Starting A Credit Union” program from CU*Answers, the Grand Rapids, Mich., core processing CUSO.
The program provides startup credit unions with free processing on the CU*BASE platform, “bridging that critical time often needed by a start-up credit union working to ramp up its community outreach, while being able to deploy a robust product tool set that allows them to effectively compete with considerably larger financial institutions from day one,” the CUSO said.
CU*Answers said it also has recently converted two more credit unions onto the CU*BASE platform as SaaS users who also deployed a number member self-service features.
They are the $258 million Day Air CU in Kettering, Ohio, and the $62 million Community Driven CU in Ypsilanti, Mich., CU*Answers said. Day Air was running on a Fiserv DataSafe platform and Community Driven on Fiserv Advantage, according to the Technology Survey at Callahan & Associates.
CU*Answers now provides core processing to about 185 credit unions representing 1.5 million members, and said it projects 125,000 new credit union members will be converted to its CU*BASE processing system during its 2012 fiscal year ending Sept. 30.