The $28 million, 4,000-member Old Ocean Federal Credit Union in Old Ocean, Texas, plans to convert to the CU*BASE core processing system through CU*South of Fairhope, Ala., the CUSO and credit union said.
Operational efficiencies, the ability to grow member relations and working with a CUSO were cited in the decision. “A key component of our credit union’s strategic plan is to find better ways to connect with our members,” said Old Ocean CEO Terry Settle.
“The credit union understood the importance of frequent, personalized contacts with their members. We presented a multi-layered marketed strategy, using built-in tools such as … core data analytics, and tiered member services that use a combination of member rewards and relationship pricing to encourage members to grow their involvement with their financial cooperative,” said CU*South CEO Leo Vaulin.
Old Ocean FCU currently is a Fiserv CUSA customer, according to the Technology Survey from Callahan & Associates.
More than 200 credit unions now use the CU*Answers core processing system from CU*Answers of Grand Rapids, Mich. CU*South is part of the cuasterisk.com network.