Corelation, the San Diego core system provider, has announced that it has signed the $624 million Lathrup Village, Mich.-based Michigan First Credit Union to implement its technology.
Conversion is slated for July 2013, said Michigan First CEO MichaelPoulos in an interview. He indicated that the institution is presently on a Symitar core, but in looking ahead to a world of 24/7 banking, he said the credit union needed a core that offered round the clock availability to staff.
“The Corelation core will give us that,” said Poulos, who explained, “ultimately we want to expand our hours. We want to be able to take loan applications at 3 a.m. and this new core will let us.”
Around a dozen credit unions are either on the CorelationKeyStone core or awaiting conversion, according to the company.
“The flexibility and openness of our KeyStone system will enable Michigan First to grow exponentially well into the future with the products and services they specifically need to better serve their members,” added Corelation President/CEO, Theresa Benavidez, in a prepared statement. “We designed our system to fit the unique requirements of credit unions like Michigan First, who want to offer 24/7 service to their members.”
Although Corelation is a comparative newcomer to the core system field, Poulus added that the team behind the platform is highly experienced and that he had confidence in them.
