To meet its twin pillars of strategy by becoming more operationally efficient and being the primary financial institution for more of its members, Launch Federal Credit Union ($781 million; 64,100 members; Merritt Island, FL) has signed with credit union core processing vendor, Corelation, Inc., to convert to its KeyStone core processing system February 18, 2019 (Presidents’ Day).
According to Launch FCU President/CEO Joe Mirachi, as the credit union accomplishes these two goals, it looks to offer its members products and services with improved features and functionality at a better price. As a result, Corelation will make the credit union more competitive in the marketplace by improving its ability to execute its strategy and increasing the value it offers members.
Mirachi adds the three primary goals he plans to achieve with Corelation include:
- Become more productive and efficient
- Improve its ability to identify and meet member needs
- Enhance its data warehousing and data analytics capabilities
“The selection of a new core system is a critical decision with long-term consequences for the credit union and a CEO,” states Mirachi. “Now that Corelation is established in the marketplace, selecting our new core system was unexpectedly an easy decision to make.”
During its search, Launch initially selected the top three core systems that would best match the requirements of the credit union. Next, the credit union utilized cross-functional teams to evaluate the various modules of the core systems and Corelation was the overwhelming first choice based on ease-of-use and the ability to readily interface with other systems. Almost half of the credit union’s 220 employees were involved in this evaluation process.
“We are thrilled to establish our presence in Florida with such a great partner in Launch Federal Credit Union,” says Corelation President/CEO Theresa Benavidez. “When your staff has the tools they need to offer streamlined, effective service, they are free to focus on giving your members the highest level of support. KeyStone has the flexibility and next-generation technology to propel Launch’s goals forward. We look forward to deepening our partnership with them.”
Joe Mirachi