Credit unions thrive on serving members in meaningful ways. But here’s a question: Is your core platform an enabler? Or is it slowing you down?
Below is a quick checkup — five areas worth examining if you want to keep pace with changing member expectations and rising tech demands.
1. Scalability And Reliability
Think about how much your membership could grow during the next few years. If your core struggles during peak traffic or needs frequent manual workarounds, members might experience delays. Sometimes, a legacy platform looks sturdy but can’t handle sudden spikes, which can lead to outages or cumbersome processes that cost time and trust.
A healthy core should feel dependable, even on your busiest day.
2. Member Demographics And Service Preferences
Credit unions often serve a wide mix of generations. Although younger members crave mobile-first interactions, older folks might still favor in-person exchanges. If your platform isn’t flexible enough to deliver consistent service across different channels, members might question why they joined your credit union in the first place.
Consider whether you have the right tools to let each group bank their way without sacrificing a friendly, personal touch.
3. Integration With Innovative Solutions
Financial technology is changing fast. Credit unions that integrate their core to the right third-party tools can keep up with members who expect quick solutions — like instant loan approvals or voice-activated account access. If you’re still relying on clunky add-ons and manual patches, you could find yourself behind the curve.
No credit union wants to watch members head elsewhere because it can’t provide the features they’re used to.
4. Vendor Responsiveness And Support
Support is more than a help desk number. When a credit union needs prompt updates or product fixes, the vendor’s level of engagement makes a huge difference. If it takes weeks to close a service request or you find yourself chasing answers, that can hurt member satisfaction and impact productivity.
A collaborative vendor is quick to adapt, stays in sync with your goals, and treats you like a partner rather than an afterthought.
5. Contract Transparency And Fair Pricing
Ever encountered mystery fees or seen prices rise without a clear reason? That can be unsettling. Review your contract to see what you’re really paying for. Some agreements bundle services you don’t need whereas others omit crucial items that end up costing more later. You shouldn’t have to guess what your core includes.
The right agreement spells out everything so you can keep expenses predictable and direct resources to member service.
A Real-World Example
Honor Credit Union ($1.7B, Berrien Springs, MI) had been on the same core platform since 1984. With 110,000 members and $1.7 billion in assets, any core change meant a sweeping overhaul of every system tied to it. Arriba Advisors worked closely with all of Honor’s business lines to help determine the best possible platform to meet the credit union’s needs.
Honor also needed to streamline its lending operation. Arriba guided the credit union through a detailed evaluation of options, helping identify the right partner and negotiating contract terms that fit Honor’s goals. The result? In 12 to 15 months, Honor managed to double loan volume using half the staff.
Ready To Evaluate Your Core?
If any of the five points above speak to your situation, it might be time to put your current platform under the microscope. Core evaluations don’t always mean switching providers — sometimes it’s about renegotiating better terms or uncovering features you already have but never knew you could leverage.
Learn how Arriba Advisors can help you tackle a thorough core evaluation or create a stronger partnership with your current vendor. Visit arribaadvisors.com/elevate for details.
Tom Russell is a co-founder and partner at Arriba Advisors — a strategic advisory firm that helps credit unions optimize member experience and achieve sustainable growth. With deep industry expertise, Arriba Advisors guides financial institutions through technology assessments, vendor evaluations, contract and price negotiations, and much more. Learn more at arribaadvisors.com or contact Russell at trussell@arribaadvisors.com.
