Do you want to know a secret? Roughly three in 10 small credit unions do not maintain their core systems in-house, instead using “hosted” or “service bureau” solutions where the core is in fact maintained off-premises by a third-party vendor.
This preview from next week's print edition continues tech writer Robert McGarvey's look at the changing core processing industry for credit unions.
Twenty-two online applications for mortgages were submitted in the first week Arizona Federal Credit Union was linked to the regional CU Members Mortgage online application service, the $1.3 billion Phoenix credit union said.
Arizona Federal Credit Union said 22 online applications were submitted in the first week it was linked to the regional CU Members Mortgage service.
EPS growth of 20% in the fourth quarter helped propel the year-end figure to the new record, the company said.
CUBUS Solutions said it is now providing electronic notification services to the $171 million Energy Capital Credit Union of Houston.
Texas credit union goes to CUBUS Solutions for electronic statements, alerts, letters.
The $75 million Texas Tech FCU said it hopes to triple its mortgage production over the next several months with the help of an automated mortgage document preparation system from MRG Document Technologies in Dallas.
CU hopes to triple loan production over next several months.