Jan. 13, 2014


  • One of the paradigms that needs to shift in the industry is that the "Core" is at the center of the Credit Union's Universe. This is simply not the case anymore, although the core is obviously key to the transactional and financial nature of the Credit Union, it is by no means the only critical component. I believe many credit unions mistakenly assume that anything offered by the core will work best for their needs. Not true anymore, way too many specialties, integration may or may not be important but an "Enterprise" mindset is what is needed now, not the one size fits all the "Cores" would have you believe.
    30 year industry Veteran
  • Those really hurt by the consolidation by large companies are the smaller credit unions that can not afford the resources to develop solutions in house. They are typically sold ancillary products to the legacy solutions they are on because the company is not interested in enhancing the solution they are running. And, as more of the ancillary products are sold off to other companies they are constantly being forced to upgrade to the new ancillary solution being offered.