Has your credit union missed the cloud computing “boat”?

While talking with a credit union this week, I had a conversation about “cloud computing” with a CIO who had expressed continuing frustration with the speed at which (or lack thereof) that they were getting buy-in for investments in anything cloud related. Considering the majority of credit unions do not consider themselves early adopters of technology I normally wouldn’t express any concern. But hello! – The early part the cloud adoption phase is over, that ship has left the dock, the race has begun or whatever catchy phrase you want to apply – the key point is the paradigm has shifted. Cloud computing is here.


Everywhere from Amazon and Microsoft all the way to your corner grocer offering accounts you can store your recipes on and as a bonus they be paired timely coupons!

Well, if that’s so true, then where is the hesitation coming from?

  • Fear perhaps? – Highly unlikely. Credit union leaders are known to take bold steps to provide services to their members. So once the early adopter timeframe had passed the strategic shift should mainstream.
  • Need for control? – Again, not buying it. Credit unions have been using the cloud for decades in a sense (at least those that were running their core via a “service bureau”. These systems were hosted elsewhere. Your data packets went “somewhere” outside your building to get to the host. I realize this is oversimplified but it could be reasoned that the service bureau model has evolved into today’s cloud model.
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