$1.1 billion Credit Union 1 selects Corelation’s KeyStone for Its modern, robust, and comprehensive technology
SAN DIEGO, CA (July 9, 2020) — Having to select a core processor that will support the needs of multiple business units for a credit union with $1.1 billion in assets is not an easy task, especially when representatives from each business unit make up the core selection team: executives, leaders, and accounting, branch, and back-office staff to name a few.
After an in-depth twelve-month selection process that included several presentations, straightforward Q&A sessions, and countless discussions, Credit Union 1 ($1.1 billion assets; 88,000 members; Lombard, IL) found its match with Corelation’s KeyStone core.
“Our consistent growth in assets and membership is a result of our ability to deliver innovative financial solutions to our members so they can achieve their maximum economic potential,” stated Credit Union 1 CEO/President Todd Gunderson. “With our mission, vision, and values as our guiding principles, there was an overwhelming consensus within the core selection team to move forward with Corelation’s KeyStone platform. Its [KeyStone] modern, robust, and comprehensive technology will provide us with the flexibility to quickly adapt to industry trends and condense the number of ancillary systems we currently have in place.”
Gunderson added, “The Corelation team did an outstanding job in answering all of our questions even when we took them off script. They immediately responded with an inquisitive and collaborative approach to ensure they understood our requirements.”
Upon implementation, Credit Union 1 eagerly anticipates: faster response times, increase in member service by eliminating existing system constraints, gained efficiencies with ‘more in the core’ such as a streamlined month-end process, and partnering with new third-party vendors to expand product and service offerings. The credit union expects these will innately contribute to its success in member acquisition and growth into the next tier for billion-dollar credit unions.
Credit Union 1 is scheduled to convert in October 2021.
“Our efforts to meet the member service and core processing needs of our credit union partners will always remain a top priority for us. The longevity in the relationships we have with our current partners speak to the mutual trust and confidence we each hold,” shared Corelation President/CEO Theresa Benavidez. “We welcome Credit Union 1 into our community and are committed to supporting them achieve their goals on the KeyStone platform.”
About Corelation Inc.
Based in San Diego, CA, Corelation is the innovative core processor for today’s credit union. This solution is a person-centric system that empowers credit unions to offer the best member service possible, enhancing their value for member attraction and retention. In terms of industry experience, Corelation’s staff has dedicated their careers to creating core systems and providing unparalleled client service. For more information, visit www.corelationinc.com.
About Credit Union 1
Credit Union 1 is a member-owned, not-for-profit financial cooperative dedicated to exceeding the expectations in our delivery of innovative financial solutions to help people achieve their maximum economic potential. Established in 1958, Credit Union 1’s vision is to be THE financial institution that drives family and community success. Credit Union 1 has over 300 employees and 19 branches concentrated in Illinois, as well as in Indiana, and Nevada serving over 88,000 members. Credit Union 1 focuses on giving back to our members with the belief that a healthy financial community benefits everyone by offering up to 100% LTV Mortgage programs, and promotions featuring cash incentive for auto loans, credit card and home equity products to help our members not only save money but put money in their pocket.