Northern Illinois Federal Credit Union ($16M, 2,300 members) went live with CUProdigy Core, a modern cloud-based platform, on March 1. While this move to cloud will add about $200 to the credit union’s monthly technology spend, the increase in technology makes up for the extra expense.
“We were running on a very antiquated system,” NIFCU President Mark Lenaway said. “We were still using batch processing for our ATMs and online banking. We knew we had to make a move to real-time to remain competitive.”
Lenaway said his previous data processor offered real-time processing, but at a very prohibitive cost. CUProdigy Core was a much better overall value.
“We feel much safer from a disaster recovery standpoint, too,” he said. The credit union’s old data processing system was run on an in-house server.
“We did our backups like we were supposed to,” said Lenaway, “but a major disaster could really cause us some major problems. I like knowing our data is now safe and secure at a state-of-the-art data center in Salt Lake City.
“Sure we’re spending a little more,” he added, “but our increased capabilities, better automation, improved employee efficiency, and especially greater member satisfaction all more than make up for that.”