The $674 million Bay Federal Credit Union in Capitola, Calif.,has agreed to sell a document management solution it created inhouse to Thuridion of Scotts Valley, Calif.

That company plans to rename it from L1te to Contessa and marketthe member service solution that Bay Federal said has saved it“seven figures” in software and maintenance costs in the 10 yearssince it was developed.

The intranet-based solution allows staff in the front and backoffices to instantly access any document in a member's fileinstantly, including system-generated letters and forms and letterssent in by members, the company and credit union said.

“We have had many requests from other credit unions over theyears to use our L1te software, but we're just not set up toprovide support,” said Bay Federal President/CEO Carrie Birkhofer. “Thuridion has provided us with first-classsoftware development on a contract basis, so we are really happythey have agreed to purchase, market and support the product, andprovide future enhancements.”

Patrick Hendry, CEO of Thuridion, a Web application developingand consulting firm, said, “We are looking forward to creating acommercial product out of L1te which will save credit unions moneywhile helping them to provide superior service to theirmembers.”