Every day, six days a week, a credit union closes and never re-opens. That has been going on for many years. More than 3% of credit unions have annually closed for the past decade. By 2025, the United States will have around 4,500 credit unions.
Do the math. Look to your right. Look to your left. One in three credit unions will vanish by 2025. Find out more in this week's preview from next week's print edition.
Core processing platform conversion for Long Island credit union.
Symitar is launching its own collaborative marketplace for credit unions to develop, share and sell their add-ons to the Episys core processing platform.
PowerOn Marketplace is named after the customization tool the core processor offers credit unions to allow them to develop custom applications.
The brain of every credit union is its core computer system–the tabulation of every transaction and thus the essential record. But voices increasingly are heard that it is time for a substantial reevaluation of those core systems.
Symitar has a new president, and Kathy Hooker Burress has accomplished one final goal in her long career in credit union technology sales and service. She retired.
Thirty-two credit unions committed to becoming new users of Symitar core processing platforms in fiscal 2010, according to Jack Henry & Associates of Monett, Mo.
Jack Henry & Associates of Monett, Mo., said it signed 32 new users of its Symitar core processing platforms in its 2010 fiscal year that ended June 30.
After a decade at Symitar, Kathy Hooker Burress plans to retire as division president at the end of the year, according to parent company Jack Henry & Associates.