Contact Center Solutions Featured Article

The Michigan Educational Credit Union has selected Open Solutions’ The Complete Credit Union Solution, a relational core data processing platform for credit unions, to address its enterprise-wide data processing needs.

 

Open Solutions sells technology for financial service providers.

 

Based in Plymouth, Michigan, Michigan Educational Credit Union has approximately $500 million in assets, six branches and serves more than 50,000 members. A long-time client of COWWW Software, a business unit of Open Solutions Inc. and provider of an information archive and delivery system for financial institutions as well as Open Solutions' CyberBranch core product, the credit union cited Open Solutions' "commitment to technology" and the ability of TCCUS to meet its needs as the primary reasons for the deal.

 

The credit union has decided to run TCCUS out of Open Solutions' service center in Cherry Hill, New Jersey.

 

"Our long-standing relationship with COWWW Software (which was acquired by Open Solutions in 2006), was also a significant factor in our selection process," said Mark Pugliese, chief financial officer for MECU. Pugliese noted Open Solutions' conversion experience with credit unions of all sizes as another deciding factor.

 

The Complete Credit Union Solution is built on an Oracle relational database designed to be an open architecture application, creating the flexibility service-oriented financial institutions like. It helps credit unions streamline both front and back office processes and creates a centralized view of members, employees and business partners.

 

Last week People's Federal Savings Bank selected The Complete Banking Solution.

 

Based in Auburn, Indiana, People's Federal Savings Bank has approximately $490 million in assets, 65,000 customers and 15 branches. The bank is migrating from Open Solutions' TotalPlus outsourced core data processing platform to The Complete Banking Solution, which the bank will operate in-house.

 

"We are a two-bank holding company and in May 2008, we will merge into one system," said John Haggarty II, vice president People's Federal Savings Bank, in explaining the move. "We are ultimately consolidating two systems into one application… we will now have the ability to link customer relationships, giving every employee at the bank a more holistic view of our commercial and retail account holders."

 

The CBS uses an Oracle relational database designed to be an open architecture application. People's officials say it should help the bank streamline both front and back office processes and creates a centralized view of customers, employees and business partners.

 

In addition to The Complete Banking Solution data processing platform, People's Federal Savings Bank is implementing Open Solutions' digital document product (electronic document management), cView for CRM/business intelligence and e-Commerce Banker, as well as Open Solutions' data warehouse and ATM services.