SnoCope Credit Union to save $100,000 per year with core tech conversion
SnoCope CU, a small credit union in the US state of Washington, is revamping its core processing technology with CUProdigy.
The new cloud-based platform will replace Fiserv‘s Galaxy solution, Banking Technology understands.
SnoCope CU swaps Fiserv for CUProdigy
The credit union hopes the project will save it around $100,000 a year following the core conversion. This will be achieved in three different ways, says CEO Steve Ellis.
“First, we’re going to be saving about $7,000 a month on our data processing bill,” he explains. “Plus, I’m going to be able to eliminate a number of third-party products because CUProdigy has the necessary features built in.
“And finally, on the third-party products we do decide to keep, CUProdigy will integrate them for free.”
The incumbent core processor, Fiserv, was charging both up-front and monthly fees for most of its third-party integrations, he adds.
SnoCope has $55 million in assets and 6,200 members.
CUProdigy is a Utah-based credit union service organisation (CUSO) that provides a cloud-based core processing platform and IT infrastructure services to financial institutions in the US.
