There are few situations more fraught with peril or packed with possibilities for credit unions than a core conversion.
The data processing system is the hub of the wheel that makes the modern financial cooperative go ’round, and the conversion process can be bumpy. Then, when it’s over, credit unions must figure out how to harvest the potential of their new system.
But credit unions don’t have to go it alone. Vendors provide guidance during and after the conversion process, and consultants weigh in with expert opinion. Plus, credit unions themselves are happy to share best practices emerging from their own experience. Here are five.
continue reading »