Minnesota CU Plans Core Conversion, Investment in CU*Answers
The $183 million Lake State Federal Credit Union in Moose Lake, Minn., will be converting to an online version of the CU*BASE core processing system, the credit union and CU*Answers said.
The 16,600-member credit union has also decided to become an owner of the core data processing CUSO, the Grand Rapids, Mich.-based CU*Answers said.
“Lake State Federal Credit Union was looking for an enterprise-wide core data processing platform that offered stability, an ongoing product evolution, and strong integration,” said the credit union’s president/CEO, Timothy J. Smith.
The credit union currently runs on a Fiserv CUSA platform, according to the Technology Survey from Callahan & Associates.
Lake State FCU also will use the CUSO’s online and mobile banking solutions, including mobile remote check capture.
There now are more than 200 credit unions running the CU*BASE platform, and CU*Answers has more than 100 owners.