In Search of a Corporate Home: Print Preview
Still suffering from the bite of losing all their Western Corporate FCU capital in 2009, credit unions report they are still capital shy when it comes to replacing corporate services.
President/CEO Robert Einstein of the $140 million UMe FCU said he transferred his Burbank, Calif.-based credit union’s business to Corporate America Credit Union because the Irondale, Ala.-based corporate doesn’t require a capital investment for new members.
The transition has gone very well, Garner said, save for a few hiccups that involved individual credit unions. All check processing services, including share draft processing and remote deposit capture, have already migrated over to Catalyst’s core processor. The corporate began moving over ACH services from U.S. Central’s APEX-ACH service to its own in-house solution May 21 and expects to complete the process in late June.
Robert Coyan, senior vice president of marketing and operations for the $4.1 billion Corporate One Federal Credit Union said his Columbus, Ohio-based institution has added 36 new members from the western region. And, his team is in touch with several credit unions that are in the process of recommending to their boards a switch to Corporate One.